Resolute Advisors LLC Lowers Stock Holdings in Unity Software Inc. (NYSE:U)

Resolute Advisors LLC trimmed its holdings in Unity Software Inc. (NYSE:U) by 13.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,040,285 shares of the company’s stock after selling 2,422,545 shares during the quarter. Unity Software comprises approximately 80.8% of Resolute Advisors LLC’s portfolio, making the stock its biggest position. Resolute Advisors LLC owned about 3.96% of Unity Software worth $614,997,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of U. Primecap Management Co. CA grew its position in shares of Unity Software by 0.9% during the 4th quarter. Primecap Management Co. CA now owns 672,847 shares of the company’s stock valued at $27,513,000 after acquiring an additional 6,120 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Unity Software by 18.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 64,540 shares of the company’s stock valued at $2,639,000 after purchasing an additional 10,000 shares in the last quarter. TCW Group Inc. bought a new stake in Unity Software during the fourth quarter valued at about $3,114,000. Tidemark LLC purchased a new stake in Unity Software in the fourth quarter worth about $39,000. Finally, Quest Partners LLC bought a new position in shares of Unity Software in the fourth quarter worth about $271,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Transactions at Unity Software

In other Unity Software news, SVP Felix The sold 4,374 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.55, for a total value of $142,373.70. Following the completion of the sale, the senior vice president now directly owns 298,948 shares in the company, valued at $9,730,757.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the transaction, the director now owns 4,498,146 shares in the company, valued at approximately $119,605,702.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 4,374 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.55, for a total value of $142,373.70. Following the sale, the senior vice president now owns 298,948 shares in the company, valued at approximately $9,730,757.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,685 shares of company stock valued at $11,248,241. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Down 1.0 %

Shares of NYSE:U traded down $0.20 during trading hours on Friday, hitting $19.40. The company’s stock had a trading volume of 7,451,429 shares, compared to its average volume of 9,357,659. The firm’s fifty day moving average price is $24.40 and its 200 day moving average price is $29.84. Unity Software Inc. has a 52 week low of $19.31 and a 52 week high of $50.08. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of -8.66 and a beta of 2.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 2.15.

Unity Software (NYSE:U) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The company had revenue of $609.27 million during the quarter, compared to the consensus estimate of $551.01 million. During the same period in the previous year, the firm posted ($0.50) earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. As a group, research analysts expect that Unity Software Inc. will post -0.79 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Friday, May 10th. Piper Sandler upgraded Unity Software from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $30.00 in a research note on Tuesday, February 27th. Citigroup reduced their price objective on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group dropped their target price on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.38.

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.