Geneos Wealth Management Inc. Cuts Stock Holdings in Unity Software Inc. (NYSE:U)

Geneos Wealth Management Inc. lowered its stake in shares of Unity Software Inc. (NYSE:U) by 63.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 704 shares of the company’s stock after selling 1,220 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Unity Software were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in Unity Software by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,349 shares of the company’s stock valued at $431,000 after buying an additional 350 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Unity Software in the first quarter valued at $967,000. Dimensional Fund Advisors LP increased its holdings in Unity Software by 91.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,954 shares of the company’s stock valued at $690,000 after buying an additional 3,313 shares during the last quarter. Sei Investments Co. increased its holdings in Unity Software by 38.4% in the first quarter. Sei Investments Co. now owns 205,371 shares of the company’s stock valued at $20,396,000 after buying an additional 56,958 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Unity Software by 684.9% in the first quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock valued at $496,000 after buying an additional 4,363 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Activity at Unity Software

In related news, SVP Anirma Gupta sold 756 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $33.07, for a total value of $25,000.92. Following the completion of the sale, the senior vice president now owns 396,985 shares in the company, valued at $13,128,293.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Unity Software news, CMO Carol W. Carpenter sold 6,417 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.57, for a total value of $209,001.69. Following the completion of the transaction, the chief marketing officer now directly owns 448,617 shares of the company’s stock, valued at $14,611,455.69. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Anirma Gupta sold 756 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the completion of the transaction, the senior vice president now directly owns 396,985 shares of the company’s stock, valued at $13,128,293.95. The disclosure for this sale can be found here. Insiders sold a total of 341,723 shares of company stock worth $9,577,516 over the last 90 days. Company insiders own 9.00% of the company’s stock.

Unity Software Price Performance

Shares of U opened at $23.73 on Thursday. Unity Software Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $50.08. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of -10.99 and a beta of 2.42. The firm has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $30.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

Unity Software (NYSE:U) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The firm had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. Unity Software’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) EPS. On average, equities research analysts anticipate that Unity Software Inc. will post -0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on U shares. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and dropped their target price for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Macquarie lowered Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Monday, February 12th. Barclays decreased their price objective on shares of Unity Software from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. William Blair restated an “outperform” rating on shares of Unity Software in a research note on Tuesday, January 9th. Finally, The Goldman Sachs Group upped their price objective on shares of Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.03.

Unity Software 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.