Daiwa Securities Group Inc. Cuts Stock Holdings in Unity Software Inc. (NYSE:U)

Daiwa Securities Group Inc. decreased its position in shares of Unity Software Inc. (NYSE:U) by 24.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,140 shares of the company’s stock after selling 8,640 shares during the period. Daiwa Securities Group Inc.’s holdings in Unity Software were worth $1,069,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. BluePath Capital Management LLC grew its holdings in shares of Unity Software by 6.7% during the fourth quarter. BluePath Capital Management LLC now owns 5,453 shares of the company’s stock valued at $223,000 after buying an additional 342 shares during the last quarter. Natixis Advisors L.P. lifted its position in Unity Software by 3.2% during the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after purchasing an additional 407 shares during the period. Teacher Retirement System of Texas lifted its position in Unity Software by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 17,602 shares of the company’s stock valued at $553,000 after purchasing an additional 433 shares during the period. Bouvel Investment Partners LLC lifted its position in Unity Software by 2.1% during the fourth quarter. Bouvel Investment Partners LLC now owns 22,186 shares of the company’s stock valued at $907,000 after purchasing an additional 446 shares during the period. Finally, Zions Bancorporation N.A. lifted its position in Unity Software by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 7,973 shares of the company’s stock valued at $250,000 after purchasing an additional 515 shares during the period. 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 on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Anirma Gupta sold 756 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James M. Whitehurst sold 44,091 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.56, for a total transaction of $1,435,602.96. Following the transaction, the chief executive officer now directly owns 155,909 shares of the company’s stock, valued at $5,076,397.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 341,723 shares of company stock valued at $9,577,516. Corporate insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on U. Wedbush lowered their price objective on shares of Unity Software from $50.00 to $33.50 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. William Blair restated an “outperform” rating on shares of Unity Software in a research report on Tuesday, January 9th. Piper Sandler upgraded shares of Unity Software from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. Needham & Company LLC decreased their price target on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price target on shares of Unity Software from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.03.

Unity Software Price Performance

Shares of NYSE U opened at $23.56 on Thursday. The firm has a fifty day moving average price of $27.24 and a 200-day moving average price of $30.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60. Unity Software Inc. has a 1 year low of $22.20 and a 1 year high of $50.08.

Unity Software (NYSE:U) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share (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 analysts’ expectations 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 period last year, the company earned ($0.50) earnings per share. Analysts anticipate that Unity Software Inc. will post -0.63 earnings per share for the current year.

About Unity Software

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.