M&T Bank Corp Has $631,000 Stake in Unity Software Inc. (NYSE:U)

M&T Bank Corp decreased its position in Unity Software Inc. (NYSE:U) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,229 shares of the company’s stock after selling 2,892 shares during the quarter. M&T Bank Corp’s holdings in Unity Software were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in shares of Unity Software by 116.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company’s stock valued at $570,000 after acquiring an additional 15,633 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Unity Software in the first quarter valued at approximately $433,000. Vanguard Group Inc. lifted its holdings in Unity Software by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock valued at $699,335,000 after purchasing an additional 625,872 shares during the last quarter. Raymond James Financial Inc. bought a new position in Unity Software during the fourth quarter worth $1,151,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock worth $55,000 after acquiring an additional 1,186 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Up 1.8%

U stock opened at $29.74 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $24.27 and its 200 day moving average is $22.62. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of -26.55 and a beta of 2.29. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The business had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.77 million. During the same quarter in the prior year, the company posted $0.28 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other news, CEO Matthew S. Bromberg sold 133,072 shares of Unity Software stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $2,826,449.28. Following the completion of the sale, the chief executive officer directly owned 1,222,812 shares in the company, valued at $25,972,526.88. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total value of $1,500,500.00. Following the transaction, the director owned 189,089 shares in the company, valued at $5,674,560.89. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,225,798 shares of company stock worth $29,880,467 over the last quarter. Corporate insiders own 3.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on U shares. Wedbush raised shares of Unity Software to a “strong-buy” rating in a research report on Tuesday, July 1st. Stifel Nicolaus cut their price objective on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company upped their price objective on shares of Unity Software from $19.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Wall Street Zen downgraded Unity Software from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group raised Unity Software from a “hold” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $29.00 in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

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.