Unity Software Inc. (NYSE:U) Position Reduced by CoreCap Advisors LLC

CoreCap Advisors LLC cut its position in shares of Unity Software Inc. (NYSE:U) by 56.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,325 shares of the company’s stock after selling 1,750 shares during the period. CoreCap Advisors LLC’s holdings in Unity Software were worth $30,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of U. Anderson Financial Strategies LLC acquired a new position in shares of Unity Software in the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in shares of Unity Software in the 4th quarter valued at about $30,000. Principal Securities Inc. increased its holdings in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of Unity Software in the 4th quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Unity Software by 150.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company’s stock valued at $40,000 after purchasing an additional 1,068 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $21.59, for a total value of $3,598,340.53. Following the completion of the sale, the director now directly owns 2,814,812 shares of the company’s stock, valued at approximately $60,771,791.08. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total value of $30,243.60. Following the completion of the sale, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at $9,775,100.08. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 782,231 shares of company stock valued at $18,033,528 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

Unity Software Stock Down 1.3%

Shares of Unity Software stock opened at $21.27 on Friday. The stock has a market capitalization of $8.84 billion, a P/E ratio of -12.66 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average price of $20.48 and a two-hundred day moving average price of $22.02. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Unity Software from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Barclays dropped their price objective on Unity Software from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Macquarie assumed coverage on Unity Software in a report on Monday, March 10th. They issued a “neutral” rating and a $24.00 price objective on the stock. Finally, Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.21.

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.