Unity Software Inc. (NYSE:U) Shares Sold by Choate Investment Advisors

Choate Investment Advisors reduced its stake in shares of Unity Software Inc. (NYSE:U) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,240 shares of the company’s stock after selling 9,960 shares during the quarter. Choate Investment Advisors’ holdings in Unity Software were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of Unity Software in the third quarter valued at about $380,000. CIBC Asset Management Inc lifted its holdings in shares of Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after purchasing an additional 330,088 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Unity Software in the third quarter valued at about $611,000. Primecap Management Co. CA lifted its holdings in shares of Unity Software by 7.1% in the third quarter. Primecap Management Co. CA now owns 811,994 shares of the company’s stock valued at $18,367,000 after purchasing an additional 53,541 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after purchasing an additional 944,709 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Up 1.4 %

U opened at $20.78 on Monday. Unity Software Inc. has a 1 year low of $13.90 and a 1 year high of $30.88. The firm has a 50 day moving average price of $22.73 and a 200 day moving average price of $21.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market cap of $8.51 billion, a PE ratio of -12.37 and a beta of 2.27.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million. Sell-side analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the completion of the sale, the director now directly owns 3,648,146 shares in the company, valued at $91,276,612.92. This trade represents a 6.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total value of $37,359.54. Following the sale, the chief operating officer now owns 495,648 shares of the company’s stock, valued at $12,520,068.48. This represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 863,309 shares of company stock worth $20,809,710. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a report on Friday, February 21st. Wells Fargo & Company reduced their price target on shares of Unity Software from $27.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. Morgan Stanley upped their price objective on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. Finally, HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.61.

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.