Resolute Advisors LLC Sells 397,081 Shares of Unity Software Inc. (NYSE:U)

Resolute Advisors LLC trimmed its position in shares of Unity Software Inc. (NYSE:U) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,243,204 shares of the company’s stock after selling 397,081 shares during the period. Unity Software makes up about 59.7% of Resolute Advisors LLC’s holdings, making the stock its biggest holding. Resolute Advisors LLC owned 3.64% of Unity Software worth $231,594,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Unity Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after acquiring an additional 208,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Unity Software by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after purchasing an additional 2,777,884 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after purchasing an additional 2,787,058 shares during the last quarter. Norges Bank acquired a new position in shares of Unity Software in the 4th quarter valued at approximately $379,180,000. Finally, Capital Research Global Investors grew its position in shares of Unity Software by 18.7% during the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after buying an additional 1,342,787 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Trading Up 5.2 %

Shares of NYSE:U opened at $19.90 on Friday. The firm has a fifty day moving average of $16.44 and a two-hundred day moving average of $20.40. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54. The firm has a market capitalization of $7.78 billion, a P/E ratio of -8.88 and a beta of 2.25.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The firm had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, equities analysts expect that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Insider Activity

In other news, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,472 shares of company stock valued at $5,775,071. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Tuesday, September 3rd. The Goldman Sachs Group dropped their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. JMP Securities restated a “market perform” rating on shares of Unity Software in a research note on Friday. Stifel Nicolaus increased their price target on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Needham & Company LLC reduced their price objective on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Unity Software currently has an average rating of “Hold” and an average price target of $26.82.

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.