Unity Software Inc. $U Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in Unity Software Inc. (NYSE:U) by 18.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,158,433 shares of the company’s stock after selling 478,768 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.51% of Unity Software worth $86,424,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of U. Bayforest Capital Ltd grew its holdings in Unity Software by 42,824.0% in the third quarter. Bayforest Capital Ltd now owns 10,731 shares of the company’s stock valued at $430,000 after purchasing an additional 10,706 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Unity Software by 4.6% in the 3rd quarter. Forum Financial Management LP now owns 11,086 shares of the company’s stock worth $444,000 after buying an additional 492 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Unity Software by 223.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 27,206 shares of the company’s stock valued at $1,089,000 after acquiring an additional 18,806 shares during the last quarter. HB Wealth Management LLC purchased a new position in Unity Software during the 3rd quarter valued at about $9,839,000. Finally, KLP Kapitalforvaltning AS raised its position in Unity Software by 3.2% during the third quarter. KLP Kapitalforvaltning AS now owns 65,000 shares of the company’s stock worth $2,603,000 after acquiring an additional 2,000 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on U shares. UBS Group upped their price target on shares of Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Deutsche Bank Aktiengesellschaft began coverage on Unity Software in a report on Wednesday, October 22nd. They issued a “hold” rating and a $39.00 price target for the company. Arete Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, December 1st. Citigroup boosted their target price on shares of Unity Software from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Hsbc Global Res cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.27.

Unity Software Stock Performance

NYSE U opened at $42.02 on Thursday. The business’s 50-day moving average price is $43.63 and its 200 day moving average price is $39.23. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15. The company has a market capitalization of $17.98 billion, a PE ratio of -40.02, a price-to-earnings-growth ratio of 47.87 and a beta of 2.04.

Unity Software (NYSE:U) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The company had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Matthew S. Bromberg sold 41,025 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,697,614.50. Following the completion of the sale, the chief executive officer directly owned 1,192,541 shares of the company’s stock, valued at $49,347,346.58. The trade was a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jarrod Yahes sold 34,719 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total value of $1,436,672.22. Following the completion of the transaction, the chief financial officer directly owned 573,871 shares in the company, valued at $23,746,781.98. This trade represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,647,935 shares of company stock worth $75,174,498 over the last 90 days. Company insiders own 3.61% of the company’s stock.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.