Unity Software Inc. $U Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its stake in Unity Software Inc. by 21.0%, selling 109,229 shares, leaving them with approximately 411,158 shares valued at $9.95 million.
• Several institutional investors have increased their positions in Unity Software, including Cornerstone Planning Group LLC, which boosted its stake 30,300% during the first quarter.
• Unity Software's stock recently received mixed ratings from analysts, with targets ranging from $15 to $41, and a consensus rating of "Moderate Buy" with a target price of $31.20.

Exchange Traded Concepts LLC lowered its holdings in Unity Software Inc. (NYSE:U - Free Report) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,158 shares of the company's stock after selling 109,229 shares during the quarter. Exchange Traded Concepts LLC owned 0.10% of Unity Software worth $9,950,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in Unity Software by 16.4% in the fourth quarter. Cetera Investment Advisers now owns 58,084 shares of the company's stock valued at $1,305,000 after buying an additional 8,182 shares during the period. Nuveen Asset Management LLC lifted its stake in Unity Software by 24.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,026,810 shares of the company's stock valued at $23,072,000 after acquiring an additional 198,515 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Unity Software in the fourth quarter valued at $4,054,000. Tidal Investments LLC lifted its stake in Unity Software by 32.6% in the fourth quarter. Tidal Investments LLC now owns 20,428 shares of the company's stock valued at $459,000 after acquiring an additional 5,018 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Unity Software in the fourth quarter valued at $22,999,000. 73.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Zacks Research cut shares of Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Bank of America initiated coverage on shares of Unity Software in a research note on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price for the company. UBS Group raised 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 raised 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. Finally, JMP Securities raised their target price on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.20.

Unity Software Price Performance

Unity Software stock traded up $0.69 during mid-day trading on Friday, reaching $46.14. The stock had a trading volume of 11,981,500 shares, compared to its average volume of 10,763,930. The company has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $27.69. Unity Software Inc. has a one year low of $15.33 and a one year high of $46.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same period last year, the firm posted ($0.32) EPS. Unity Software's quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Buying and Selling

In other Unity Software news, SVP Anirma Gupta sold 2,296 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $43.99, for a total value of $101,001.04. Following the completion of the transaction, the senior vice president directly owned 628,453 shares in the company, valued at $27,645,647.47. This represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Helgason sold 1,350,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.43, for a total value of $59,980,500.00. Following the completion of the transaction, the director owned 6,139,173 shares of the company's stock, valued at $272,763,456.39. The trade was a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,134,426 shares of company stock worth $89,426,284 in the last ninety days. Corporate insiders own 3.61% of the company's stock.

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.