Unity Software Inc. $U Shares Sold by Affinity Capital Advisors LLC

Affinity Capital Advisors LLC lessened its stake in Unity Software Inc. (NYSE:U) by 16.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,414 shares of the company’s stock after selling 22,372 shares during the period. Unity Software comprises about 0.7% of Affinity Capital Advisors LLC’s investment portfolio, making the stock its 25th largest position. Affinity Capital Advisors LLC’s holdings in Unity Software were worth $4,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of U. Salem Investment Counselors Inc. acquired a new stake in shares of Unity Software during the third quarter worth $40,000. CX Institutional bought a new stake in Unity Software in the 2nd quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new position in Unity Software during the 2nd quarter valued at about $28,000. Roxbury Financial LLC bought a new position in Unity Software in the 3rd quarter worth about $60,000. Finally, Banque Transatlantique SA bought a new position in Unity Software in the 1st quarter worth about $28,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David Helgason sold 8,347 shares of Unity Software stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.16, for a total value of $410,338.52. Following the sale, the director directly owned 7,635 shares in the company, valued at $375,336.60. This trade represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jarrod Yahes sold 27,742 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $42.79, for a total value of $1,187,080.18. Following the completion of the transaction, the chief financial officer owned 546,129 shares of the company’s stock, valued at approximately $23,368,859.91. This represents a 4.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,901,471 shares of company stock worth $85,264,529 over the last 90 days. 3.61% of the stock is currently owned by corporate insiders.

Unity Software Trading Up 1.7%

Shares of Unity Software stock opened at $44.51 on Friday. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a 50-day simple moving average of $40.47 and a 200 day simple moving average of $36.39. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $19.05 billion, a P/E ratio of -42.39 and a beta of 2.04.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HSBC cut shares of Unity Software from a “buy” rating to a “hold” rating and increased their price objective for the company from $37.50 to $40.80 in a report on Tuesday, September 30th. The Goldman Sachs Group assumed coverage on shares of Unity Software in a research note on Wednesday, October 15th. They set a “neutral” rating and a $38.00 price objective for the company. Arete Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, December 1st. Needham & Company LLC increased their target price on shares of Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, BTIG Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Unity Software presently has an average rating of “Moderate Buy” and a consensus price target of $43.04.

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.