Bank of New York Mellon Corp Sells 7,828 Shares of Unity Software Inc. (NYSE:U)

Bank of New York Mellon Corp lowered its holdings in Unity Software Inc. (NYSE:U) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,255,521 shares of the company’s stock after selling 7,828 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of Unity Software worth $24,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of U. Anderson Financial Strategies LLC bought a new stake in shares of Unity Software during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Unity Software during the fourth quarter valued at $36,000. Itau Unibanco Holding S.A. grew its holdings in Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company’s stock valued at $40,000 after purchasing an additional 1,068 shares during the period. GAMMA Investing LLC grew its holdings in Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock valued at $55,000 after purchasing an additional 1,186 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Unity Software in the fourth quarter worth about $122,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Performance

Shares of NYSE U opened at $36.47 on Friday. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $38.96. The company has a market cap of $15.16 billion, a PE ratio of -32.57 and a beta of 2.29. The stock has a 50 day simple moving average of $24.85 and a 200-day simple moving average of $22.80. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) 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 company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. During the same period in the previous year, the business earned $0.28 EPS. The company’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC decreased their target price on Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Morgan Stanley dropped their target price on Unity Software from $32.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Barclays dropped their price target on Unity Software from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus lowered their target price on Unity Software from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Wedbush upped their target price on Unity Software from $31.50 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.43.

Insider Buying and Selling at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 133,072 shares of the firm’s 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 transaction, the chief executive officer directly owned 1,222,812 shares of the company’s stock, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the transaction, the director directly owned 189,089 shares in the company, valued at approximately $5,674,560.89. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,226,809 shares of company stock valued at $29,913,123 in the last three months. Company insiders own 3.61% 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.