Invesco Ltd. Sells 1,966,917 Shares of Unity Software Inc. (NYSE:U)

Invesco Ltd. lessened its stake in Unity Software Inc. (NYSE:U) by 29.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,824,087 shares of the company’s stock after selling 1,966,917 shares during the quarter. Invesco Ltd. owned about 1.16% of Unity Software worth $94,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its stake in shares of Unity Software by 30,300.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares during the last quarter. Anderson Financial Strategies LLC acquired a new position in Unity Software in the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Unity Software in the fourth quarter valued at approximately $36,000. Itau Unibanco Holding S.A. boosted its stake in Unity Software by 150.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company’s stock valued at $40,000 after acquiring an additional 1,068 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Unity Software by 72.5% during the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock worth $55,000 after acquiring an additional 1,186 shares during the period. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Down 1.1%

Shares of U stock opened at $38.00 on Friday. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $38.99. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $29.63 and a 200-day moving average of $24.50. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of -35.85 and a beta of 2.32.

Unity Software (NYSE:U) last released its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The firm had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%. Unity Software’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) EPS. As a group, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on U. Barclays upped their target price on shares of Unity Software from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. JMP Securities increased their target price on Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Stifel Nicolaus decreased their target price on Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Citigroup upped their price target on Unity Software from $29.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley lifted their price objective on shares of Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Unity Software has an average rating of “Moderate Buy” and a consensus target price of $31.20.

Insider Transactions at Unity Software

In other news, CAO Mark Barrysmith sold 1,011 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $32.30, for a total transaction of $32,655.30. Following the completion of the transaction, the chief accounting officer directly owned 464,372 shares of the company’s stock, valued at $14,999,215.60. This trade represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shlomo Dovrat sold 50,000 shares of the business’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the sale, the director directly owned 189,089 shares in the company, valued at approximately $5,674,560.89. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,214,694 shares of company stock worth $31,384,519. Corporate insiders own 3.61% of the company’s stock.

Unity Software Company 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.