Unity Software Inc. $U Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Unity Software stake by 10.5% in the third quarter, selling 105,300 shares; it retained 902,299 shares valued at about $36.9 million.
• Analyst sentiment is broadly positive: Unity has a “Moderate Buy” consensus and an average price target of $48.86, with 18 analysts rating it a Buy and one rating it a Strong Buy.
• Unity’s latest reported quarter exceeded expectations, with EPS of $0.28 versus a consensus loss of $0.11 and revenue of $546.5 million, up 24% year over year.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Unity Software Inc. (NYSE:U - Free Report) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 902,299 shares of the company's stock after selling 105,300 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Unity Software worth $36,931,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in U. Fortitude Family Office LLC boosted its stake in Unity Software by 56.1% during the 3rd quarter. Fortitude Family Office LLC now owns 840 shares of the company's stock valued at $34,000 after purchasing an additional 302 shares during the period. Reyes Financial Architecture Inc. acquired a new stake in Unity Software during the third quarter valued at approximately $62,000. Global Retirement Partners LLC acquired a new stake in shares of Unity Software in the 2nd quarter valued at $56,000. Versant Capital Management Inc increased its stake in shares of Unity Software by 37.6% in the second quarter. Versant Capital Management Inc now owns 2,041 shares of the company's stock valued at $58,000 after buying an additional 558 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in shares of Unity Software by 105.2% during the second quarter. Elevation Wealth Partners LLC now owns 2,286 shares of the company's stock worth $65,000 after purchasing an additional 1,172 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on U. Morgan Stanley upped their target price on shares of Unity Software from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, October 13th. Raymond James Financial raised Unity Software from a "market perform" rating to an "outperform" rating and set a $54.00 target price on the stock in a research report on Thursday, October 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Unity Software in a research report on Monday. Piper Sandler reiterated an "overweight" rating on shares of Unity Software in a report on Monday, October 5th. Finally, Wells Fargo & Company boosted their price target on Unity Software from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.86.

Unity Software Price Performance

U stock opened at $42.29 on Thursday. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of -31.10, a P/E/G ratio of 1.76 and a beta of 2.08. The company has a 50 day simple moving average of $42.23 and a 200 day simple moving average of $31.76.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. During the same period last year, the company earned $0.18 EPS. The firm's revenue was up 24.0% compared to the same quarter last year. Research analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 26,017 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer directly owned 678,343 shares of the company's stock, valued at $30,735,721.33. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the sale, the chief operating officer owned 661,855 shares of the company's stock, valued at $28,797,311.05. This trade represents a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is currently owned by company insiders.

Unity Software Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.