Erste Asset Management GmbH Sells 81,000 Shares of Unity Software Inc. $U

Key Points

• Erste Asset Management GmbH has significantly decreased its stake in Unity Software Inc. by 84.3%, selling 81,000 shares and now holding only 15,120 shares valued at approximately $296,000.
• Several institutional investors have recently adjusted their positions in Unity Software, with notable increases from Amalgamated Bank, Bouvel Investment Partners LLC, and Signaturefd LLC, highlighting a current institutional ownership of 73.46%.
• Analysts have mixed opinions on Unity Software's stock, with target prices raised by firms including UBS Group and Morgan Stanley, while Zacks downgraded the stock to a "hold" rating, resulting in an average consensus price target of $31.20.

Erste Asset Management GmbH trimmed its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 84.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,120 shares of the company's stock after selling 81,000 shares during the period. Erste Asset Management GmbH's holdings in Unity Software were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC raised its holdings in shares of Unity Software by 59.3% during the first quarter. Hsbc Holdings PLC now owns 590,820 shares of the company's stock worth $11,551,000 after acquiring an additional 219,834 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Unity Software during the first quarter worth $43,265,000. Northern Trust Corp raised its holdings in shares of Unity Software by 0.7% during the first quarter. Northern Trust Corp now owns 1,745,956 shares of the company's stock worth $34,203,000 after acquiring an additional 11,419 shares during the period. Algert Global LLC raised its holdings in shares of Unity Software by 35.8% during the first quarter. Algert Global LLC now owns 157,736 shares of the company's stock worth $3,090,000 after acquiring an additional 41,570 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Unity Software during the first quarter worth $11,956,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Performance

Unity Software stock traded down $0.29 during midday trading on Thursday, hitting $40.05. The company's stock had a trading volume of 3,209,434 shares, compared to its average volume of 12,399,148. The company has a 50-day moving average price of $31.88 and a two-hundred day moving average price of $25.42. The company has a market cap of $16.92 billion, a price-to-earnings ratio of -37.80 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $41.41.

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

Insider Buying and Selling at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 29,876 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $39.32, for a total transaction of $1,174,724.32. Following the sale, the chief financial officer directly owned 638,504 shares of the company's stock, valued at $25,105,977.28. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shlomo Dovrat sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the sale, the director directly owned 189,089 shares in the company, valued at $5,674,560.89. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 820,842 shares of company stock worth $23,103,341 over the last 90 days. 3.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on U. Citigroup raised their target price on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus decreased their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JMP Securities raised their target price on shares of Unity Software from $30.00 to $35.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Morgan Stanley raised their target price on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Unity Software from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Unity Software has an average rating of "Moderate Buy" and a consensus target price of $31.20.

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.