Marathon Trading Investment Management LLC Has $1.10 Million Position in Unity Software Inc. $U

Key Points

• Marathon Trading Investment Management LLC has reduced its stock position in Unity Software Inc. by 20.6%, now holding 56,200 shares valued at approximately $1.1 million.
• Unity Software reported a quarterly revenue of $440.94 million, exceeding analysts' expectations, despite a loss per share of ($0.26), slightly below forecasts.
• A variety of institutional investors have adjusted their stakes in Unity, with 73.46% of the stock now owned by institutional investors and hedge funds.

Marathon Trading Investment Management LLC cut its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 20.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,200 shares of the company's stock after selling 14,600 shares during the period. Marathon Trading Investment Management LLC's holdings in Unity Software were worth $1,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of Unity Software by 116.2% in the first quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock worth $570,000 after acquiring an additional 15,633 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Unity Software in the first quarter worth about $433,000. GAMMA Investing LLC lifted its holdings in shares of Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock worth $55,000 after acquiring an additional 1,186 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Unity Software in the first quarter worth about $2,215,000. Finally, Amalgamated Bank lifted its holdings 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. Institutional investors own 73.46% of the company's stock.

Wall Street Analyst Weigh In

U has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Stifel Nicolaus dropped their price objective on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Morgan Stanley raised their price objective on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Citigroup raised their price objective on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Unity Software from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Insider Activity at Unity Software

In other news, CAO Mark Barrysmith sold 1,011 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $32.30, for a total transaction of $32,655.30. Following the completion of the sale, the chief accounting officer owned 464,372 shares of the company's stock, valued at $14,999,215.60. This trade represents a 0.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Anirma Gupta sold 3,384 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $38.37, for a total transaction of $129,844.08. Following the sale, the senior vice president directly owned 641,568 shares of the company's stock, valued at approximately $24,616,964.16. This trade represents a 0.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,214,694 shares of company stock worth $31,384,519. Corporate insiders own 3.61% of the company's stock.

Unity Software Trading Down 3.9%

Unity Software stock traded down $1.47 during mid-day trading on Wednesday, hitting $35.76. 4,668,751 shares of the stock were exchanged, compared to its average volume of 12,405,584. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $39.72. The firm's fifty day simple moving average is $30.15 and its two-hundred day simple moving average is $24.72. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of -33.85 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last released 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). The firm had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) EPS. Analysts forecast that Unity Software Inc. will post -1.25 EPS 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.