Sumitomo Mitsui Trust Group Inc. Sells 286,100 Shares of Unity Software Inc. $U

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Unity by 13.3%, selling 286,100 shares and now holds 1,872,333 shares (about 0.44% of the company) valued at $82.7 million.
• Insiders have sold 41,684 shares over the past 90 days—including CFO Jarrod Yahes (6,205 shares) and COO Alexander Blum (2,541)—leaving corporate insiders with roughly 0.77% ownership.
• Analysts assign Unity a consensus rating of “Moderate Buy” with an average target of $37.41; the company recently beat quarterly EPS and revenue (revenue +10.1% YoY) but remains unprofitable with a negative net margin.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,872,333 shares of the company's stock after selling 286,100 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.44% of Unity Software worth $82,701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company's stock worth $15,930,000 after buying an additional 45,481 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Unity Software during the first quarter worth $260,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Unity Software by 28.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company's stock worth $134,000 after acquiring an additional 1,241 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Unity Software by 11.3% during the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company's stock valued at $12,603,000 after acquiring an additional 53,015 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Unity Software by 1,135.6% during the second quarter. Sei Investments Co. now owns 224,715 shares of the company's stock valued at $5,438,000 after acquiring an additional 206,529 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Insider Buying and Selling at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 6,205 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.03, for a total value of $130,491.15. Following the sale, the chief financial officer directly owned 728,381 shares in the company, valued at approximately $15,317,852.43. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Alexander Blum sold 2,541 shares of Unity Software stock in a transaction on Friday, February 27th. The stock was sold at an average price of $18.76, for a total transaction of $47,669.16. Following the transaction, the chief operating officer directly owned 548,425 shares in the company, valued at approximately $10,288,453. This represents a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,684 shares of company stock valued at $773,350. Corporate insiders own 0.77% of the company's stock.

Analyst Ratings Changes

U has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $35.00 price objective on shares of Unity Software in a research report on Friday, March 27th. Citigroup cut their target price on shares of Unity Software from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company reduced their target price on shares of Unity Software from $38.00 to $29.00 and set an "overweight" rating on the stock in a research note on Friday, March 27th. BTIG Research lowered their price target on shares of Unity Software from $41.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Finally, Jefferies Financial Group increased their price objective on shares of Unity Software from $49.00 to $55.00 and gave the company a "buy" rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.41.

Unity Software Trading Up 2.4%

NYSE:U opened at $23.35 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of -24.32, a PEG ratio of 8.40 and a beta of 2.00. The business's 50-day moving average price is $20.55 and its two-hundred day moving average price is $33.78.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to analysts' expectations of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.Unity Software's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.30) EPS. On average, equities analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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