Raymond James & Associates Sells 46,836 Shares of Unity Software Inc. (NYSE:U)

Raymond James & Associates lessened its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,590 shares of the company's stock after selling 46,836 shares during the period. Raymond James & Associates' holdings in Unity Software were worth $2,927,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Front Row Advisors LLC raised its holdings in Unity Software by 15,550.0% during the second quarter. Front Row Advisors LLC now owns 626 shares of the company's stock valued at $27,000 after acquiring an additional 622 shares during the period. Pacifica Partners Inc. bought a new position in Unity Software in the fourth quarter worth approximately $33,000. Huntington National Bank raised its stake in Unity Software by 665.0% in the third quarter. Huntington National Bank now owns 895 shares of the company's stock worth $28,000 after buying an additional 778 shares in the last quarter. IFP Advisors Inc raised its stake in Unity Software by 373.7% in the second quarter. IFP Advisors Inc now owns 919 shares of the company's stock worth $40,000 after buying an additional 725 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Unity Software by 74.5% in the first quarter. Geneos Wealth Management Inc. now owns 977 shares of the company's stock worth $96,000 after buying an additional 417 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

Insider Buying and Selling at Unity Software

In related news, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total value of $53,160.00. Following the transaction, the chief marketing officer now directly owns 444,617 shares in the company, valued at approximately $11,817,919.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Carol W. Carpenter sold 2,000 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total transaction of $53,160.00. Following the completion of the sale, the chief marketing officer now directly owns 444,617 shares of the company's stock, valued at approximately $11,817,919.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Anirma Gupta sold 756 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $33.07, for a total transaction of $25,000.92. Following the transaction, the senior vice president now owns 396,985 shares of the company's stock, valued at approximately $13,128,293.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 341,723 shares of company stock valued at $9,577,516. 9.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

U has been the topic of several recent research reports. Piper Sandler raised shares of Unity Software from an "underweight" rating to a "neutral" rating and lowered their price target for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Stifel Nicolaus raised their target price on Unity Software from $32.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, March 1st. HSBC initiated coverage on Unity Software in a report on Monday, December 18th. They issued a "hold" rating and a $37.00 price objective on the stock. William Blair reissued an "outperform" rating on shares of Unity Software in a research note on Tuesday, January 9th. Finally, Macquarie lowered shares of Unity Software from a "neutral" rating to an "underperform" rating and set a $20.00 target price on the stock. in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $37.03.

Unity Software Stock Performance

U stock traded down $0.90 during midday trading on Monday, reaching $24.41. 7,305,167 shares of the company were exchanged, compared to its average volume of 10,340,550. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60. The business has a 50-day moving average price of $28.65 and a two-hundred day moving average price of $30.83. Unity Software Inc. has a one year low of $22.20 and a one year high of $50.08. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of -11.30 and a beta of 2.42.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). The firm had revenue of $609.27 million for the quarter, compared to the consensus estimate of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.50) EPS. Equities research analysts forecast that Unity Software Inc. will post -0.63 EPS for the current year.

About Unity Software

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.