Unity Software Inc. $U Position Decreased by Primecap Management Co. CA

Primecap Management Co. CA lowered its holdings in Unity Software Inc. (NYSE:U) by 39.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,014 shares of the company’s stock after selling 201,800 shares during the period. Primecap Management Co. CA owned about 0.07% of Unity Software worth $12,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in U. Root Financial Partners LLC bought a new stake in Unity Software during the third quarter worth approximately $27,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Unity Software during the 2nd quarter valued at $28,000. Salem Investment Counselors Inc. bought a new stake in shares of Unity Software during the 3rd quarter worth $40,000. Allworth Financial LP grew its holdings in shares of Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after acquiring an additional 412 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Unity Software by 81.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,187 shares of the company’s stock worth $48,000 after acquiring an additional 533 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on U. Piper Sandler upgraded Unity Software from a “neutral” rating to an “overweight” rating and increased their price target for the company from $43.00 to $59.00 in a research report on Thursday, December 11th. Barclays reduced their price objective on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Wedbush dropped their target price on shares of Unity Software from $37.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Finally, Citigroup decreased their price objective on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.52.

Insider Transactions at Unity Software

In other news, COO Alexander Blum sold 10,164 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $183,663.48. Following the transaction, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. This represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 14,407 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $50.01, for a total transaction of $720,494.07. Following the transaction, the chief accounting officer directly owned 394,479 shares in the company, valued at $19,727,894.79. The trade was a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,183,233 shares of company stock valued at $55,869,919 in the last ninety days. 3.61% of the stock is currently owned by insiders.

Key Headlines Impacting Unity Software

Here are the key news stories impacting Unity Software this week:

• Neutral Sentiment: Heightened investor attention reported by Zacks/Yahoo — more searches and coverage may increase volatility and trading volume in the short term. Investors Heavily Search Unity Software Inc. (U)
• Neutral Sentiment: Recent fundamentals: Unity reported a revenue and EPS beat in its Feb. 11 quarter and year?over?year revenue growth — positive operational context that may limit the durability of any sell?off (background reporting).
• Negative Sentiment: COO Alexander Blum sold 2,541 shares on Feb. 27 at ~$18.76 (?$47.7k), trimming his position by ~0.46%; SEC filing here. SEC Filing
• Negative Sentiment: COO Alexander Blum also sold 10,164 shares on Feb. 25 at ~$18.07 (~$183.7k), a ~1.81% cut to his holdings; same SEC filing as above. SEC Filing
• Negative Sentiment: CAO Mark Barrysmith sold 10,578 shares on Feb. 25 at ~$18.07 (~$191.1k), reducing his stake by ~2.68%; SEC filing here. SEC Filing
• Negative Sentiment: CFO Jarrod Yahes sold 12,196 shares on Feb. 25 at ~$18.07 (~$220.4k), cutting his holding by ~2.23%; SEC filing here. SEC Filing

Unity Software Stock Performance

U stock opened at $18.14 on Friday. The firm has a 50 day simple moving average of $34.50 and a 200 day simple moving average of $38.57. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The stock has a market cap of $7.85 billion, a P/E ratio of -18.89, a P/E/G ratio of 10.50 and a beta of 2.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $503.09 million for the quarter, compared to analyst estimates of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. Research analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.