Wellington Management Group LLP Sells 805,697 Shares of Unity Software Inc. $U

Key Points

• Wellington Management Group LLP has reduced its stake in Unity Software by 7.2%, now holding 10,378,897 shares valued at approximately $203 million.
• Multiple institutional investors have recently made moves in Unity Software, including Cornerstone Planning Group's staggering 30,300% stake increase, reflecting a growing interest in the company's stock.
• Recent analyst ratings show a mixed consensus on Unity Software, with an average target price of $31.20 and varied ratings ranging from strong buy to sell.

Wellington Management Group LLP lessened its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,378,897 shares of the company's stock after selling 805,697 shares during the quarter. Wellington Management Group LLP owned 2.50% of Unity Software worth $203,323,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Cornerstone Planning Group LLC raised its stake in Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after acquiring an additional 1,212 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Unity Software during the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Unity Software during the 4th quarter worth approximately $36,000. Itau Unibanco Holding S.A. increased its stake in shares of Unity Software by 150.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock valued at $40,000 after buying an additional 1,068 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Unity Software by 72.5% in the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after acquiring an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America started coverage on shares of Unity Software in a research report on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price on the stock. UBS Group raised their price target on shares of Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Needham & Company LLC upped their price objective on Unity Software from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. BTIG Research lowered Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a research report on Wednesday, July 23rd. Finally, Zacks Research downgraded Unity Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Insider Buying and Selling

In related news, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the transaction, the director owned 189,089 shares of the company's stock, valued at $5,674,560.89. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Alexander Blum sold 2,582 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $32.99, for a total transaction of $85,180.18. Following the completion of the sale, the chief operating officer directly owned 716,926 shares of the company's stock, valued at $23,651,388.74. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,214,694 shares of company stock worth $31,384,519 over the last quarter. Insiders own 3.61% of the company's stock.

Unity Software Stock Performance

U stock opened at $35.9090 on Thursday. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $39.72. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The company has a market cap of $15.17 billion, a P/E ratio of -33.88 and a beta of 2.32. The business's fifty day moving average is $30.38 and its 200-day moving average is $24.80.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the firm earned ($0.32) earnings per share. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

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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