Handelsbanken Fonder AB Sells 14,139 Shares of Unity Software Inc. (NYSE:U)

Handelsbanken Fonder AB lowered its stake in Unity Software Inc. (NYSE:U) by 14.2% in the 4th quarter, Holdings Channel reports. The firm owned 85,643 shares of the company’s stock after selling 14,139 shares during the quarter. Handelsbanken Fonder AB’s holdings in Unity Software were worth $3,502,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in U. IFP Advisors Inc boosted its stake in Unity Software by 443.0% in the 3rd quarter. IFP Advisors Inc now owns 4,990 shares of the company’s stock worth $157,000 after purchasing an additional 4,071 shares during the period. Global Retirement Partners LLC boosted its stake in Unity Software by 112.1% in the 3rd quarter. Global Retirement Partners LLC now owns 1,752 shares of the company’s stock worth $52,000 after purchasing an additional 926 shares during the period. SG Americas Securities LLC boosted its stake in Unity Software by 236.2% in the 3rd quarter. SG Americas Securities LLC now owns 34,512 shares of the company’s stock worth $1,083,000 after purchasing an additional 24,248 shares during the period. Impact Partnership Wealth LLC boosted its stake in Unity Software by 1,151.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,251 shares of the company’s stock worth $39,000 after purchasing an additional 1,151 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in Unity Software by 6.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 16,682 shares of the company’s stock worth $524,000 after purchasing an additional 981 shares during the period. Institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on U shares. William Blair restated an “outperform” rating on shares of Unity Software in a research note on Tuesday, January 9th. Wedbush lowered their price target on Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Macquarie cut Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a report on Monday, February 12th. Piper Sandler raised 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. Finally, Needham & Company LLC lowered their price target on Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Unity Software presently has a consensus rating of “Hold” and an average price target of $37.03.

Insiders Place Their Bets

In other news, SVP Anirma Gupta sold 756 shares of Unity Software stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the sale, the senior vice president now directly owns 396,985 shares in the company, valued at approximately $13,128,293.95. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CMO Carol W. Carpenter sold 6,417 shares of Unity Software stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.57, for a total value of $209,001.69. Following the sale, the chief marketing officer now directly owns 448,617 shares in the company, valued at approximately $14,611,455.69. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Anirma Gupta sold 756 shares of Unity Software stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the completion of the sale, the senior vice president now owns 396,985 shares in the company, valued at $13,128,293.95. The disclosure for this sale can be found here. Insiders have sold 341,723 shares of company stock valued at $9,577,516 in the last ninety days. Company insiders own 9.00% of the company’s stock.

Unity Software Stock Down 1.1 %

Shares of Unity Software stock opened at $23.32 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.85. The business’s 50 day simple moving average is $27.01 and its two-hundred day simple moving average is $30.45. Unity Software Inc. has a one year low of $22.20 and a one year high of $50.08.

Unity Software (NYSE:U) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to analysts’ expectations of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. Unity Software’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the firm earned ($0.50) earnings per share. Analysts anticipate 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.