Pasadena Private Wealth LLC Has $2.96 Million Position in Unity Software Inc. $U

Pasadena Private Wealth LLC lowered its position in Unity Software Inc. (NYSE:U) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,228 shares of the company’s stock after selling 5,000 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Unity Software were worth $2,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in U. Cornerstone Planning Group LLC increased its position in Unity Software by 30,300.0% during 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 period. CX Institutional acquired a new stake in Unity Software during the 2nd quarter valued at approximately $25,000. Banque Transatlantique SA acquired a new stake in Unity Software during the 1st quarter valued at approximately $28,000. GAMMA Investing LLC increased its position in Unity Software by 72.5% during the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock valued at $55,000 after purchasing an additional 1,186 shares during the period. Finally, Signaturefd LLC increased its position in Unity Software by 26.3% during the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company’s stock valued at $72,000 after purchasing an additional 762 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Buying and Selling

In related news, CEO Matthew S. Bromberg sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $40.03, for a total value of $4,803,600.00. Following the transaction, the chief executive officer directly owned 1,222,812 shares in the company, valued at $48,949,164.36. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Helgason sold 1,350,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $44.43, for a total value of $59,980,500.00. Following the completion of the transaction, the director owned 6,139,173 shares in the company, valued at approximately $272,763,456.39. This represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,236,951 shares of company stock worth $95,081,659 over the last quarter. Corporate insiders own 3.61% of the company’s stock.

Unity Software Price Performance

Unity Software stock opened at $37.29 on Monday. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of -35.18 and a beta of 2.32. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $46.94. The stock’s 50 day moving average price is $40.08 and its two-hundred day moving average price is $30.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73.

Unity Software (NYSE:U) last posted its quarterly 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). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the previous year, the company posted ($0.32) earnings per share. Unity Software’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Wells Fargo & Company increased their target price on shares of Unity Software from $29.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Wedbush increased their target price on shares of Unity Software from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Jefferies Financial Group increased their price target on Unity Software from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley increased their price target on Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Unity Software presently has an average rating of “Hold” and a consensus target price of $34.10.

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.