Federated Hermes Inc. Has $88,000 Position in Unity Software Inc. (NYSE:U)

Federated Hermes Inc. reduced its stake in Unity Software Inc. (NYSE:U) by 57.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,491 shares of the company’s stock after selling 6,126 shares during the quarter. Federated Hermes Inc.’s holdings in Unity Software were worth $88,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HB Wealth Management LLC lifted its holdings in shares of Unity Software by 3.5% during the first quarter. HB Wealth Management LLC now owns 111,563 shares of the company’s stock worth $2,186,000 after buying an additional 3,775 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Unity Software by 30.8% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 108,684 shares of the company’s stock worth $2,131,000 after buying an additional 25,603 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Unity Software by 52.9% during the first quarter. Cetera Investment Advisers now owns 88,810 shares of the company’s stock worth $1,740,000 after buying an additional 30,726 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Unity Software during the first quarter worth approximately $263,000. Finally, WESPAC Advisors SoCal LLC acquired a new position in shares of Unity Software during the first quarter worth approximately $410,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Shlomo Dovrat sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 189,089 shares in the company, valued at $5,674,560.89. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Helgason sold 261,473 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the sale, the director owned 7,489,173 shares in the company, valued at approximately $192,471,746.10. This represents a 3.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,210,142 shares of company stock worth $31,199,782. 3.61% of the stock is currently owned by insiders.

Unity Software Price Performance

Shares of U opened at $33.22 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50 day simple moving average of $28.50 and a 200 day simple moving average of $24.02. Unity Software Inc. has a 52-week low of $14.68 and a 52-week high of $38.96. The firm has a market capitalization of $14.04 billion, a PE ratio of -31.34 and a beta of 2.32.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The business had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Unity Software’s revenue for the quarter was down 1.9% 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on U shares. Barclays raised their target price on Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group raised their target price on Unity Software from $22.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Morgan Stanley raised their target price on Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup raised their target price on Unity Software from $29.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their target price on Unity Software from $24.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Unity Software presently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Unity Software 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.