Unity Software Inc. (NYSE:U) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 520,387 shares of the company's stock after selling 24,014 shares during the period. Exchange Traded Concepts LLC owned 0.13% of Unity Software worth $10,194,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Unity Software in the 4th quarter valued at $269,320,000. Slate Path Capital LP acquired a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. Capital International Investors increased its position in shares of Unity Software by 10.4% in 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 period. Ameriprise Financial Inc. increased its position in shares of Unity Software by 3,843.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock valued at $39,771,000 after acquiring an additional 1,725,070 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock valued at $43,505,000 after acquiring an additional 1,521,165 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on U. Citizens Jmp raised Unity Software from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Wells Fargo & Company cut their target price on Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Wedbush downgraded Unity Software from a "strong-buy" rating to a "strong sell" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen raised shares of Unity Software from a "hold" rating to a "buy" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.14.

Unity Software Trading Down 5.2%

U stock opened at $23.69 on Monday. The company's 50-day simple moving average is $21.85 and its 200-day simple moving average is $22.44. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $30.88. The firm has a market cap of $9.85 billion, a P/E ratio of -14.10 and a beta of 2.34.

Unity Software (NYSE:U - Get Free Report) last posted its 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 analyst estimates of $415.77 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. As a group, equities analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 46,957 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $997,366.68. Following the completion of the sale, the senior vice president now owns 644,952 shares in the company, valued at approximately $13,698,780.48. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the completion of the sale, the director now owns 2,981,479 shares of the company's stock, valued at approximately $59,748,839.16. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,294,611 shares of company stock valued at $30,506,382. 3.61% of the stock is owned by corporate 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.

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