Connor Clark & Lunn Investment Management Ltd. Sells 452,840 Shares of Unity Software Inc. (NYSE:U)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Unity Software Inc. (NYSE:U) by 52.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,966 shares of the company’s stock after selling 452,840 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Unity Software were worth $9,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 949 shares in the last quarter. Planning Capital Management Corp acquired a new stake in Unity Software during the 3rd quarter valued at $34,000. Northwestern Mutual Wealth Management Co. raised its position in Unity Software by 163.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares during the last quarter. Blue Trust Inc. boosted its stake in Unity Software by 308.8% in the second quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after purchasing an additional 2,359 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Unity Software by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after purchasing an additional 562 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on U shares. Wedbush lifted their price target on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Wells Fargo & Company started coverage on shares of Unity Software in a research report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, September 13th. UBS Group upped their price objective on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Barclays lifted their target price on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $23.35.

Insider Activity

In related news, Director Shlomo Dovrat sold 3,750 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $17.99, for a total value of $67,462.50. Following the completion of the transaction, the director now directly owns 2,394,935 shares of the company’s stock, valued at approximately $43,084,880.65. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 534,550 shares of company stock worth $10,148,127 over the last ninety days. Insiders own 6.30% of the company’s stock.

Unity Software Trading Up 4.1 %

NYSE U opened at $22.52 on Friday. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s 50 day moving average price is $20.91 and its two-hundred day moving average price is $18.69. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of -11.04 and a beta of 2.29.

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.