California Public Employees Retirement System Sells 6,686 Shares of Unity Software Inc. (NYSE:U)

California Public Employees Retirement System cut its stake in shares of Unity Software Inc. (NYSE:U) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 417,284 shares of the company’s stock after selling 6,686 shares during the period. California Public Employees Retirement System’s holdings in Unity Software were worth $17,063,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of U. Pacifica Partners Inc. acquired a new stake in Unity Software in the fourth quarter valued at approximately $33,000. Huntington National Bank grew its position in Unity Software by 665.0% in the 3rd quarter. Huntington National Bank now owns 895 shares of the company’s stock valued at $28,000 after purchasing an additional 778 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new stake in Unity Software in the 3rd quarter valued at $48,000. Compagnie Lombard Odier SCmA increased its position in shares of Unity Software by 48.8% during the third quarter. Compagnie Lombard Odier SCmA now owns 3,050 shares of the company’s stock worth $96,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Avitas Wealth Management LLC bought a new stake in Unity Software during the 4th quarter worth approximately $204,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Performance

Shares of U opened at $24.98 on Tuesday. Unity Software Inc. has a 12-month low of $22.20 and a 12-month high of $50.08. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $26.63 and a 200-day moving average price of $30.39.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Needham & Company LLC decreased their target price on Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Piper Sandler upgraded shares of Unity Software from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $30.00 in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their price target 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. Stifel Nicolaus lifted their price objective on shares of Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, William Blair restated an “outperform” rating on shares of Unity Software in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.03.

Insider Buying and Selling at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the business’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 completion of the sale, the director now owns 4,498,146 shares in the company, valued at approximately $119,605,702.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Felix The sold 4,374 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.55, for a total transaction of $142,373.70. Following the transaction, the senior vice president now directly owns 298,948 shares of the company’s stock, valued at $9,730,757.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction dated 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 directly owns 4,498,146 shares of the company’s stock, valued at approximately $119,605,702.14. The disclosure for this sale can be found here. Insiders have sold 340,967 shares of company stock worth $9,552,515 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Unity Software Company 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.