Exchange Traded Concepts LLC Decreases Stock Position in Unity Software Inc. (NYSE:U)

Exchange Traded Concepts LLC trimmed its stake in Unity Software Inc. (NYSE:U - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 520,387 shares of the company's stock after selling 24,014 shares during the period. Exchange Traded Concepts LLC owned about 0.13% of Unity Software worth $10,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. increased its stake 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 valued at $32,000 after buying an additional 477 shares during the period. Farther Finance Advisors LLC grew its holdings in Unity Software by 3.5% during the 4th quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company's stock worth $324,000 after acquiring an additional 488 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Unity Software by 0.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company's stock valued at $3,182,000 after purchasing an additional 973 shares during the period. California State Teachers Retirement System increased its position in Unity Software by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 261,740 shares of the company's stock valued at $5,881,000 after purchasing an additional 1,031 shares during the period. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Unity Software by 150.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock valued at $40,000 after purchasing an additional 1,068 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Insider Transactions at Unity Software

In related news, Director Tomer Bar-Zeev sold 9,551 shares of Unity Software stock in a transaction on Monday, June 9th. The shares were sold at an average price of $25.51, for a total value of $243,646.01. Following the sale, the director now owns 748,099 shares of the company's stock, valued at approximately $19,084,005.49. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark Barrysmith sold 1,414 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $21.42, for a total transaction of $30,287.88. Following the completion of the sale, the chief accounting officer now directly owns 480,408 shares of the company's stock, valued at approximately $10,290,339.36. The trade was a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,294,611 shares of company stock valued at $30,506,382 in the last 90 days. 3.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on U shares. Hsbc Global Res raised Unity Software to a "strong-buy" rating in a research report on Friday, February 21st. UBS Group cut their target price on Unity Software from $30.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group upgraded shares of Unity Software from a "hold" rating to a "buy" rating and boosted their target price for the stock from $22.00 to $29.00 in a report on Friday, May 30th. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a report on Friday, February 21st. Finally, Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.14.

Unity Software Stock Performance

NYSE:U traded up $0.34 during mid-day trading on Thursday, hitting $23.89. The company's stock had a trading volume of 7,032,608 shares, compared to its average volume of 11,444,430. The business's fifty day moving average is $22.15 and its two-hundred day moving average is $22.46. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of -21.33 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 Inc. has a 1 year low of $13.90 and a 1 year high of $30.88.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.19. The firm had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The company's revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. Analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.