Daiwa Securities Group Inc. Decreases Stake in Unity Software Inc. (NYSE:U)

Daiwa Securities Group Inc. cut its holdings in Unity Software Inc. (NYSE:U) by 28.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,531 shares of the company’s stock after selling 1,029 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Unity Software were worth $57,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Unity Software by 100.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Unity Software during the third quarter worth $12,317,000. Monolith Management Ltd purchased a new stake in Unity Software during the third quarter worth $10,993,000. Weiss Asset Management LP purchased a new stake in Unity Software during the third quarter worth $10,335,000. Finally, Geode Capital Management LLC boosted its position in Unity Software by 9.7% during the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock worth $106,008,000 after purchasing an additional 413,474 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Unity Software news, COO Alexander Blum sold 1,479 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the sale, the chief operating officer now directly owns 495,648 shares in the company, valued at $12,520,068.48. This represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.99, for a total value of $3,498,340.33. Following the sale, the director now owns 3,481,479 shares of the company’s stock, valued at $73,076,244.21. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 863,309 shares of company stock worth $20,809,710 over the last three months. 6.30% of the stock is owned by insiders.

Unity Software Stock Performance

Unity Software stock opened at $21.48 on Tuesday. The firm has a market capitalization of $8.80 billion, a P/E ratio of -12.78 and a beta of 2.27. The stock has a fifty day moving average price of $22.66 and a 200 day moving average price of $21.99. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Equities research analysts anticipate 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 commented on U shares. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Friday, February 21st. UBS Group upped their price objective on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Morgan Stanley upped their price objective on Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Macquarie started coverage on Unity Software in a research report on Monday, March 10th. They issued a “neutral” rating and a $24.00 price objective on the stock. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.61.

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.