EMC Capital Management Sells 1,797 Shares of Unity Software Inc. (NYSE:U)

EMC Capital Management lowered its stake in shares of Unity Software Inc. (NYSE:U) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,703 shares of the company’s stock after selling 1,797 shares during the period. EMC Capital Management’s holdings in Unity Software were worth $129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in U. Capital International Investors grew its holdings in Unity Software by 426.1% during the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after purchasing an additional 6,376,034 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in shares of 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 acquiring an additional 2,787,058 shares during the period. Capital Research Global Investors increased its holdings in shares of Unity Software by 18.7% during the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after acquiring an additional 1,342,787 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Unity Software by 35.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock worth $31,805,000 after acquiring an additional 507,274 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Unity Software by 40.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock valued at $23,929,000 after acquiring an additional 424,806 shares during the period. Institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

U has been the topic of several research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $17.00 price objective (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. The Goldman Sachs Group reduced their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Benchmark reduced their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.35.

Unity Software Stock Performance

NYSE U opened at $20.84 on Friday. The firm’s 50 day simple moving average is $19.98 and its 200 day simple moving average is $19.05. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 1 year low of $13.90 and a 1 year high of $43.54.

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

Insider Buying and Selling

In related news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Felix The sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the transaction, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Helgason sold 250,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 281,600 shares of company stock worth $5,714,000 in the last ninety days. 6.30% of the stock is owned by insiders.

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.