Handelsbanken Fonder AB Sells 14,139 Shares of Unity Software Inc. (NYSE:U)

Handelsbanken Fonder AB trimmed its stake in shares of Unity Software Inc. (NYSE:U) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,643 shares of the company’s stock after selling 14,139 shares during the quarter. Handelsbanken Fonder AB’s holdings in Unity Software were worth $3,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its holdings in shares of Unity Software by 443.0% during the third quarter. IFP Advisors Inc now owns 4,990 shares of the company’s stock worth $157,000 after buying an additional 4,071 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Unity Software by 112.1% during the third quarter. Global Retirement Partners LLC now owns 1,752 shares of the company’s stock worth $52,000 after buying an additional 926 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Unity Software by 236.2% during the third quarter. SG Americas Securities LLC now owns 34,512 shares of the company’s stock worth $1,083,000 after buying an additional 24,248 shares in the last quarter. Impact Partnership Wealth LLC lifted its holdings in shares of Unity Software by 1,151.0% during the third quarter. Impact Partnership Wealth LLC now owns 1,251 shares of the company’s stock worth $39,000 after buying an additional 1,151 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Unity Software by 6.2% during the third quarter. DAVENPORT & Co LLC now owns 16,682 shares of the company’s stock worth $524,000 after buying an additional 981 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

Insider Transactions at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the sale, the director now directly owns 4,498,146 shares in the company, valued at $119,605,702.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Anirma Gupta sold 756 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $33.07, for a total value of $25,000.92. Following the sale, the senior vice president now directly owns 396,985 shares in the company, valued at $13,128,293.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the sale, the director now owns 4,498,146 shares in the company, valued at $119,605,702.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 341,723 shares of company stock worth $9,577,516. Insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on U shares. Macquarie downgraded Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a report on Monday, February 12th. The Goldman Sachs Group boosted their price target on Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $35.00 to $30.00 in a research note on Tuesday, February 27th. Barclays dropped their price target on 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. Finally, Stifel Nicolaus boosted their price target on Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Unity Software has a consensus rating of “Hold” and a consensus target price of $37.03.

Unity Software Price Performance

NYSE:U opened at $23.32 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60. The stock’s 50-day moving average is $27.01 and its 200-day moving average is $30.45. Unity Software Inc. has a 1-year low of $22.20 and a 1-year high of $50.08.

Unity Software (NYSE:U) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). The firm had revenue of $609.27 million for the quarter, compared to the consensus estimate of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.50) earnings per share. Sell-side analysts expect that Unity Software Inc. will post -0.63 earnings per share for the current year.

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.