New York State Common Retirement Fund Has $2.78 Million Stake in Unity Software Inc. (NYSE:U)

New York State Common Retirement Fund lessened its holdings in Unity Software Inc. (NYSE:U - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,077 shares of the company's stock after selling 9,500 shares during the period. New York State Common Retirement Fund's holdings in Unity Software were worth $2,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of U. Vanguard Group Inc. increased its position in Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after purchasing an additional 625,872 shares during the last quarter. Capital International Investors boosted its stake in Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after acquiring an additional 1,786,032 shares during the last quarter. Norges Bank bought a new position in Unity Software during the 4th quarter valued at $269,320,000. Geode Capital Management LLC boosted its stake in Unity Software by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after acquiring an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP acquired a new position in Unity Software in the fourth quarter valued at approximately $62,387,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Stock Down 1.9%

Shares of U traded down $0.63 during mid-day trading on Friday, hitting $32.71. 7,931,270 shares of the company's stock were exchanged, compared to its average volume of 15,723,192. The company has a market cap of $13.60 billion, a PE ratio of -29.21 and a beta of 2.29. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $38.96. The company has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $23.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same quarter last year, the firm posted $0.28 EPS. The company's quarterly revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on U. Bank of America assumed coverage on shares of Unity Software in a report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price objective on the stock. Wedbush raised their target price on shares of Unity Software from $31.50 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. UBS Group raised their price target on shares of Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Barclays cut their price objective on shares of Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of Unity Software from $19.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $27.22.

Insider Buying and Selling

In other Unity Software news, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James M. Whitehurst sold 72,955 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $1,549,564.20. Following the sale, the director owned 240,311 shares in the company, valued at approximately $5,104,205.64. This trade represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,276,809 shares of company stock valued at $31,561,623 in the last ninety days. 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.