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 reduced its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 84.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Amalgamated Bank raised its stake in shares of Unity Software by 3.0% in the first quarter. Amalgamated Bank now owns 18,132 shares of the company's stock worth $355,000 after acquiring an additional 525 shares during the last quarter. Bouvel Investment Partners LLC raised its stake in shares of Unity Software by 1.7% in the first quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock worth $697,000 after acquiring an additional 580 shares during the last quarter. Signaturefd LLC raised its stake in shares of Unity Software by 26.3% in the first quarter. Signaturefd LLC now owns 3,658 shares of the company's stock worth $72,000 after acquiring an additional 762 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Unity Software by 0.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company's stock worth $3,182,000 after acquiring an additional 973 shares during the last quarter. Finally, Jessup Wealth Management Inc raised its stake in shares of Unity Software by 4.3% in the first quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company's stock worth $464,000 after acquiring an additional 985 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley boosted their target price on shares of Unity Software from $25.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Needham & Company LLC boosted their target price on shares of Unity Software from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Barclays boosted their price target on shares of Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zacks Research downgraded shares of Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Unity Software presently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Activity

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the completion of the transaction, the director owned 2,398,146 shares in the company, valued at approximately $63,287,072.94. The trade was a 9.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew S. Bromberg sold 133,072 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the transaction, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This represents a 9.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,214,694 shares of company stock valued at $31,384,519. 3.61% of the stock is currently owned by company insiders.

Unity Software Trading Up 7.6%

U opened at $39.0440 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $16.50 billion, a price-to-earnings ratio of -36.83 and a beta of 2.32. The firm has a 50 day simple moving average of $30.92 and a 200 day simple moving average of $25.02. Unity Software Inc. has a fifty-two week low of $15.33 and a fifty-two week high of $39.72.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). The firm had revenue of $440.94 million for 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%. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

About Unity Software

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.

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