Janney Montgomery Scott LLC Lowers Stake in Unity Software Inc. (NYSE:U)

Janney Montgomery Scott LLC lowered its stake in shares of Unity Software Inc. (NYSE:U – Get Rating) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,707 shares of the company’s stock after selling 3,161 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Unity Software were worth $341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ronald Blue Trust Inc. purchased a new stake in shares of Unity Software during the 2nd quarter valued at $53,000. Geneos Wealth Management Inc. raised its position in Unity Software by 74.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 977 shares of the company’s stock worth $96,000 after purchasing an additional 417 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Unity Software in the 2nd quarter worth $49,000. Atria Wealth Solutions Inc. purchased a new position in Unity Software in the 1st quarter worth $208,000. Finally, Seaport Global Advisors LLC purchased a new position in Unity Software in the 2nd quarter worth $81,000. Hedge funds and other institutional investors own 82.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. DA Davidson decreased their target price on shares of Unity Software from $60.00 to $40.00 in a research report on Thursday, November 10th. Stifel Nicolaus lifted their target price on shares of Unity Software from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 17th. Benchmark decreased their price objective on shares of Unity Software to $16.00 in a research report on Tuesday, November 15th. The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 price objective on shares of Unity Software in a research report on Tuesday, November 15th. Finally, Barclays decreased their price objective on shares of Unity Software from $33.00 to $22.00 in a research report on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.38.

Insider Buying and Selling

In related news, SVP Ingrid Lestiyo sold 22,524 shares of the business’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $35.69, for a total transaction of $803,881.56. Following the sale, the senior vice president now owns 133,169 shares of the company’s stock, valued at $4,752,801.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Ingrid Lestiyo sold 22,524 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $35.69, for a total value of $803,881.56. Following the transaction, the senior vice president now owns 133,169 shares in the company, valued at $4,752,801.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Carol W. Carpenter sold 797 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $32.03, for a total transaction of $25,527.91. Following the completion of the transaction, the chief marketing officer now owns 432,976 shares in the company, valued at approximately $13,868,221.28. The disclosure for this sale can be found here. Insiders have sold 68,330 shares of company stock valued at $2,431,296 over the last quarter. Corporate insiders own 6.90% of the company’s stock.

Unity Software Trading Down 0.5 %

Shares of U opened at $34.96 on Wednesday. The firm’s 50-day moving average price is $31.96 and its 200-day moving average price is $35.41. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of -13.00 and a beta of 2.05. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.77. Unity Software Inc. has a 1-year low of $21.22 and a 1-year high of $119.65.

Unity Software (NYSE:U – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.17). Unity Software had a negative return on equity of 26.00% and a negative net margin of 63.17%. The business had revenue of $322.88 million for the quarter, compared to the consensus estimate of $323.33 million. Sell-side analysts anticipate that Unity Software Inc. will post -1.69 EPS for the current year.

About Unity Software

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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.