Greenleaf Trust Lowers Stake in Unity Software Inc. $U

Greenleaf Trust lowered its stake in shares of Unity Software Inc. (NYSE:U) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,385 shares of the company’s stock after selling 1,833 shares during the quarter. Greenleaf Trust’s holdings in Unity Software were worth $300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock valued at $645,775,000 after buying an additional 1,841,486 shares in the last quarter. Atreides Management LP raised its position in Unity Software by 146.7% in the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after purchasing an additional 5,607,572 shares during the period. Ameriprise Financial Inc. raised its position in Unity Software by 89.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company’s stock worth $65,778,000 after purchasing an additional 1,587,582 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Unity Software by 43.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,773,157 shares of the company’s stock worth $54,326,000 after purchasing an additional 837,026 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd purchased a new position in Unity Software in the 1st quarter worth $47,648,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Activity

In related news, CAO Mark Barrysmith sold 645 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $46.52, for a total transaction of $30,005.40. Following the sale, the chief accounting officer owned 453,788 shares of the company’s stock, valued at $21,110,217.76. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Anirma Gupta sold 2,296 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $43.99, for a total transaction of $101,001.04. Following the sale, the senior vice president directly owned 628,453 shares in the company, valued at $27,645,647.47. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,334,426 shares of company stock worth $98,130,784. 3.61% of the stock is owned by company insiders.

Unity Software Trading Down 3.2%

Shares of U opened at $37.85 on Friday. The firm’s 50-day moving average price is $39.46 and its 200-day moving average price is $29.10. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of -35.71 and a beta of 2.32. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $46.94.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) EPS. Sell-side analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

U has been the topic of a number of analyst reports. Zacks Research cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research report on Saturday, September 27th. Morgan Stanley lifted their target price on shares of Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Hsbc Global Res cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Citigroup lifted their target price on shares of Unity Software from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.05.

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.