Deutsche Bank AG Sells 126,598 Shares of Unity Software Inc. $U

Key Points

• Deutsche Bank AG reduced its stake in Unity Software Inc. by 54.6%, selling 126,598 shares to hold a total of 105,075 shares worth approximately $2.06 million.
• Several institutional investors have increased their positions in Unity Software, with Charles Schwab raising its holdings by 10.6% and Vanguard increasing theirs by 5.9% in the first quarter.
• Unity Software reported a quarterly loss of ($0.26) EPS, missing estimates while revenue for the quarter was $440.94 million, up slightly from last year despite facing a negative net margin of 24.38%.

Deutsche Bank AG reduced its position in Unity Software Inc. (NYSE:U - Free Report) by 54.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,075 shares of the company's stock after selling 126,598 shares during the period. Deutsche Bank AG's holdings in Unity Software were worth $2,058,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Unity Software by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after purchasing an additional 1,841,486 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Unity Software by 35.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,473,370 shares of the company's stock worth $55,578,000 after purchasing an additional 642,627 shares during the last quarter. Broad Peak Investment Advisers Pte Ltd acquired a new position in Unity Software in the 1st quarter worth about $47,648,000. Charles Schwab Investment Management Inc. increased its position in Unity Software by 10.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,166,916 shares of the company's stock worth $42,450,000 after purchasing an additional 208,516 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Unity Software by 3,843.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock worth $39,771,000 after purchasing an additional 1,725,070 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Trading Up 0.5%

Shares of NYSE:U traded up $0.22 during midday trading on Tuesday, hitting $40.05. The company had a trading volume of 12,797,342 shares, compared to its average volume of 14,610,714. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $40.88. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of -37.78 and a beta of 2.32. The firm has a fifty day simple moving average of $31.55 and a 200 day simple moving average of $25.31.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Analysts Set New Price Targets

U has been the subject of several recent analyst reports. BTIG Research downgraded Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target for the company. in a research note on Wednesday, July 23rd. Zacks Research downgraded Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group upped their price target on Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price target on Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.20.

Insiders Place Their Bets

In other news, Director David Helgason sold 261,473 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the transaction, the director directly owned 7,489,173 shares in the company, valued at $192,471,746.10. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.39, for a total value of $6,597,500.00. Following the completion of the transaction, the director owned 2,398,146 shares in the company, valued at $63,287,072.94. This represents a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 987,508 shares of company stock worth $27,294,991 over the last three months. Insiders own 3.61% of the company's stock.

Unity Software Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.