Citizens Financial Group Inc. RI Lowers Position in Unity Software Inc. $U

Citizens Financial Group Inc. RI lowered its position in Unity Software Inc. (NYSE:U) by 13.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,628 shares of the company’s stock after selling 10,975 shares during the period. Citizens Financial Group Inc. RI’s holdings in Unity Software were worth $2,908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of U. GAMMA Investing LLC lifted its position in shares of Unity Software by 10.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after buying an additional 288 shares during the last quarter. Allworth Financial LP increased its stake in Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after acquiring an additional 412 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Unity Software by 4.4% in the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock worth $261,000 after purchasing an additional 454 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Unity Software by 2.1% during the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after buying an additional 462 shares in the last quarter. Finally, Forum Financial Management LP raised its position in Unity Software by 4.6% during the third quarter. Forum Financial Management LP now owns 11,086 shares of the company’s stock valued at $444,000 after purchasing an additional 492 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Trading Down 3.4%

U stock opened at $45.67 on Wednesday. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15. The firm’s fifty day simple moving average is $43.64 and its two-hundred day simple moving average is $39.21. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of -43.49, a price-to-earnings-growth ratio of 49.57 and a beta of 2.04. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its earnings results 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 business had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. During the same period in the prior year, the firm earned ($0.31) EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity

In other news, Director David Helgason sold 8,347 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $49.16, for a total value of $410,338.52. Following the completion of the sale, the director directly owned 7,635 shares in the company, valued at $375,336.60. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Alexander Blum sold 1,988 shares of Unity Software stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $42.47, for a total transaction of $84,430.36. Following the completion of the sale, the chief operating officer owned 561,130 shares in the company, valued at approximately $23,831,191.10. This trade represents a 0.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,648,737 shares of company stock valued at $75,203,547. 3.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BTIG Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, December 11th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Piper Sandler upgraded shares of Unity Software from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $43.00 to $59.00 in a research note on Thursday, December 11th. Barclays upped their price target on Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Finally, UBS Group raised their target price on shares of Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Unity Software Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.