Wellington Management Group LLP Decreases Stake in 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 Unity Software Inc. (NYSE:U - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,378,897 shares of the company's stock after selling 805,697 shares during the quarter. Wellington Management Group LLP owned about 2.50% of Unity Software worth $203,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of U. Amalgamated Bank grew its position in Unity Software by 3.0% in the first quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after acquiring an additional 525 shares during the last quarter. Bouvel Investment Partners LLC grew its position in Unity Software by 1.7% in the first quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock valued at $697,000 after acquiring an additional 580 shares during the last quarter. Signaturefd LLC grew its position in Unity Software by 26.3% in the first quarter. Signaturefd LLC now owns 3,658 shares of the company's stock valued at $72,000 after acquiring an additional 762 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Unity Software by 0.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company's stock valued at $3,182,000 after acquiring an additional 973 shares during the last quarter. Finally, Jessup Wealth Management Inc grew its holdings in shares of Unity Software by 4.3% during the first quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company's stock worth $464,000 after purchasing an additional 985 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on U shares. Bank of America started coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price objective for the company. Wedbush upped their price objective on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Stifel Nicolaus lowered their price objective on Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. BTIG Research downgraded Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective for the company. in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC upped their price objective on Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Insider Buying and Selling at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the sale, the director directly owned 2,398,146 shares in the company, valued at $63,287,072.94. The trade was a 9.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Anirma Gupta sold 10,819 shares of Unity Software stock in a transaction on Monday, August 25th. The stock was sold at an average price of $39.32, for a total value of $425,403.08. Following the sale, the senior vice president owned 630,749 shares in the company, valued at $24,801,050.68. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 987,508 shares of company stock worth $27,294,991. 3.61% of the stock is currently owned by insiders.

Unity Software Trading Up 0.5%

NYSE:U traded up $0.22 on Tuesday, reaching $40.05. 12,797,342 shares of the stock traded hands, compared to its average volume of 14,610,714. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of -37.78 and a beta of 2.32. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $40.88. The company's 50 day moving average is $31.55 and its 200-day moving average is $25.31. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (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 business had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the previous year, the company posted ($0.32) earnings per share. Unity Software's quarterly revenue was down 1.9% on a year-over-year basis. Equities research 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.