Sumitomo Mitsui Trust Group Inc. Sells 105,300 Shares of Unity Software Inc. $U

Sumitomo Mitsui Trust Group Inc. decreased its position in Unity Software Inc. (NYSE:U) by 10.5% during the third quarter, HoldingsChannel.com reports. The firm owned 902,299 shares of the company’s stock after selling 105,300 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Unity Software were worth $36,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Unity Software in the 3rd quarter worth $107,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Unity Software by 22.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,800 shares of the company’s stock valued at $1,056,000 after acquiring an additional 4,800 shares during the last quarter. Parcion Private Wealth LLC lifted its position in Unity Software by 70.3% during the third quarter. Parcion Private Wealth LLC now owns 15,163 shares of the company’s stock valued at $621,000 after purchasing an additional 6,260 shares during the period. Soltis Investment Advisors LLC bought a new position in Unity Software during the third quarter valued at approximately $318,000. Finally, Choreo LLC grew its stake in shares of Unity Software by 14.4% during the 3rd quarter. Choreo LLC now owns 14,654 shares of the company’s stock valued at $600,000 after purchasing an additional 1,842 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on U shares. Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Monday, October 12th. Jefferies Financial Group increased their target price on Unity Software from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a “hold” rating to a “buy” rating and raised their target price for the company from $31.00 to $50.00 in a report on Friday, August 7th. Wedbush increased their price objective on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. Finally, Wells Fargo & Company boosted their target price on shares of Unity Software from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.86.

Insider Transactions at Unity Software

In related news, SVP Rebecca Boyden sold 1,032 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares of the company’s stock, valued at approximately $13,977,277.16. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer owned 678,343 shares of the company’s stock, valued at $30,735,721.33. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 109,547 shares of company stock valued at $4,884,202 in the last quarter. Insiders own 0.77% of the company’s stock.

Unity Software Trading Up 4.5%

NYSE:U opened at $42.29 on Thursday. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The firm has a 50-day simple moving average of $42.23 and a 200-day simple moving average of $31.76. The firm has a market cap of $18.61 billion, a P/E ratio of -31.10, a P/E/G ratio of 1.76 and a beta of 2.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. During the same period last year, the business earned $0.18 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. Equities analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time content. Its core product is the Unity engine, a development platform used to build video games and experiences for mobile devices, personal computers, consoles, augmented and virtual reality systems, and other platforms.

The company also provides tools and services that support the development and operation of interactive applications, including collaboration and cloud-based development tools, multiplayer and voice communication capabilities, analytics, advertising, and in-app monetization solutions.