Rakuten Securities Inc. Sells 14,616 Shares of Unity Software Inc. (NYSE:U)

Rakuten Securities Inc. lowered its holdings in Unity Software Inc. (NYSE:U - Free Report) by 73.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,234 shares of the company's stock after selling 14,616 shares during the quarter. Rakuten Securities Inc.'s holdings in Unity Software were worth $103,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of U. Anderson Financial Strategies LLC bought a new stake in shares of Unity Software during the fourth quarter worth $28,000. Principal Securities Inc. raised its position in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after acquiring an additional 477 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Unity Software during the fourth quarter worth $36,000. Whipplewood Advisors LLC bought a new stake in shares of Unity Software during the fourth quarter worth $40,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock worth $40,000 after acquiring an additional 1,068 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Trading Down 3.3%

Shares of Unity Software stock traded down $0.80 during trading hours on Friday, hitting $23.11. The company's stock had a trading volume of 9,037,851 shares, compared to its average volume of 11,455,137. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The stock has a 50 day moving average of $22.32 and a 200 day moving average of $22.42. The company has a market capitalization of $9.61 billion, a PE ratio of -20.63 and a beta of 2.34. 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, topping 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 company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same period in the prior year, the company earned $0.28 earnings per share. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Unity Software from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Citigroup upgraded Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 target price for the company in a research report on Tuesday, March 11th. Wedbush downgraded Unity Software from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, May 7th. Jefferies Financial Group upgraded Unity Software from a "hold" rating to a "buy" rating and upped their price objective for the company from $22.00 to $29.00 in a report on Friday, May 30th. Finally, Needham & Company LLC dropped their price objective on Unity Software from $33.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.14.

Insider Activity at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total value of $3,340,006.68. Following the completion of the transaction, the director now directly owns 2,981,479 shares in the company, valued at $59,748,839.16. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Helgason sold 261,473 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $25.70, for a total value of $6,719,856.10. Following the completion of the transaction, the director now owns 7,489,173 shares of the company's stock, valued at approximately $192,471,746.10. This represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,294,611 shares of company stock valued at $30,506,382. 3.61% of the stock is owned by insiders.

Unity Software Company 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.