Parallel Advisors LLC Lowers Stock Position in Unity Software Inc. (NYSE:U)

Parallel Advisors LLC reduced its stake in Unity Software Inc. (NYSE:U) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,182 shares of the company’s stock after selling 1,331 shares during the quarter. Parallel Advisors LLC’s holdings in Unity Software were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ariose Capital Management Ltd bought a new position in Unity Software during the fourth quarter valued at approximately $2,299,000. Charles Schwab Investment Management Inc. grew its position in Unity Software by 100.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after acquiring an additional 944,709 shares during the last quarter. LMR Partners LLP bought a new position in Unity Software during the third quarter valued at approximately $611,000. Edgestream Partners L.P. grew its position in Unity Software by 637.9% during the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after acquiring an additional 88,955 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Unity Software during the third quarter valued at approximately $4,390,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

NYSE U opened at $21.53 on Thursday. The business’s fifty day moving average price is $22.60 and its 200-day moving average price is $22.02. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of -12.82 and a beta of 2.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on U shares. Needham & Company LLC increased their price target on shares of Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Citigroup upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, March 11th. Wedbush restated an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Finally, Citizens Jmp upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.61.

Insider Activity

In related news, CAO Mark Barrysmith sold 1,445 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $20.61, for a total value of $29,781.45. Following the transaction, the chief accounting officer now directly owns 483,417 shares of the company’s stock, valued at approximately $9,963,224.37. This trade represents a 0.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the completion of the transaction, the chief operating officer now directly owns 495,648 shares in the company, valued at approximately $12,520,068.48. This represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 865,236 shares of company stock valued at $20,849,425 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

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.