Sumitomo Mitsui Trust Group Inc. Sells 2,684,153 Shares of Unity Software Inc. (NYSE:U)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 48.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,858,390 shares of the company's stock after selling 2,684,153 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.69% of Unity Software worth $55,996,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Unity Software in the 4th quarter valued at approximately $204,000. New York Life Investment Management LLC bought a new stake in shares of Unity Software during the fourth quarter valued at approximately $715,000. Proficio Capital Partners LLC acquired a new position in shares of Unity Software in the fourth quarter valued at $440,000. Jones Financial Companies Lllp raised its stake in shares of Unity Software by 144.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,902 shares of the company's stock valued at $43,000 after purchasing an additional 1,125 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Unity Software in the fourth quarter worth $1,714,000. 73.46% of the stock is owned by institutional investors.

Unity Software Price Performance

Unity Software stock traded up $1.72 on Thursday, reaching $26.00. The company's stock had a trading volume of 14,017,928 shares, compared to its average volume of 11,533,201. The business's fifty day moving average price is $23.06 and its 200 day moving average price is $22.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market cap of $10.81 billion, a price-to-earnings ratio of -23.21 and a beta of 2.29. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88.

Unity Software (NYSE:U - Get Free Report) last issued 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. The business had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. Equities analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on U shares. Needham & Company LLC lowered their price target on shares of Unity Software from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Morgan Stanley lowered their target price on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Citigroup raised shares of Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a research report on Tuesday, March 11th. Wall Street Zen downgraded Unity Software from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Citizens Jmp upgraded Unity Software from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.47.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director David Helgason sold 261,473 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the transaction, the director owned 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $26.39, for a total value of $6,597,500.00. Following the transaction, the director owned 2,398,146 shares in the company, valued at approximately $63,287,072.94. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,127,944 shares of company stock valued at $27,166,375 over the last ninety days. Company insiders own 3.61% of the company's stock.

Unity Software 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.