AXQ Capital LP Sells 25,034 Shares of Unity Software Inc. $U

AXQ Capital LP trimmed its holdings in Unity Software Inc. (NYSE:U - Free Report) by 32.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 51,772 shares of the company's stock after selling 25,034 shares during the quarter. AXQ Capital LP's holdings in Unity Software were worth $1,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Atreides Management LP bought a new stake in Unity Software in the 2nd quarter worth approximately $292,826,000. Wellington Management Group LLP grew its holdings in shares of Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock worth $729,284,000 after acquiring an additional 6,734,285 shares during the period. Norges Bank bought a new stake in shares of Unity Software in the fourth quarter worth $230,285,000. Resolute Advisors LLC increased its position in Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company's stock valued at $136,219,000 after acquiring an additional 3,934,840 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Unity Software during the first quarter valued at $54,534,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Price Performance

U stock opened at $41.63 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The company's fifty day moving average price is $36.58 and its 200-day moving average price is $28.37. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The company has a market capitalization of $18.32 billion, a PE ratio of -30.61, a price-to-earnings-growth ratio of 1.84 and a beta of 2.06.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million during the quarter, compared to analysts' expectations of $514.72 million. During the same period last year, the company posted $0.18 earnings per share. Unity Software's quarterly revenue was up 24.0% on a year-over-year basis. On average, equities analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Rebecca Boyden sold 1,032 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the sale, the senior vice president directly owned 308,413 shares in the company, valued at $13,977,277.16. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew Bromberg sold 16,383 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares of the company's stock, valued at $69,828,645.61. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on U. Wedbush upped their price target on shares of Unity Software from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. Bank of America raised shares of Unity Software from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $30.00 to $50.00 in a report on Friday, August 7th. Raymond James Financial initiated coverage on shares of Unity Software in a research report on Monday, June 29th. They set a "market perform" rating for the company. Wall Street Zen raised shares of Unity Software from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company increased their price target on shares of Unity Software from $36.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $45.16.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source