CenterBook Partners LP Sells 56,899 Shares of Unity Software Inc. $U

CenterBook Partners LP lowered its holdings in Unity Software Inc. (NYSE:U) by 71.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,426 shares of the company’s stock after selling 56,899 shares during the period. CenterBook Partners LP’s holdings in Unity Software were worth $898,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new position in shares of Unity Software in the second quarter worth $205,000. Forum Financial Management LP bought a new stake in shares of Unity Software during the 2nd quarter valued at $256,000. Austin Wealth Management LLC purchased a new stake in Unity Software during the 2nd quarter worth about $208,000. PNC Financial Services Group Inc. boosted its stake in Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after purchasing an additional 13,245 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd grew its holdings in Unity Software by 43.6% during the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock valued at $114,091,000 after buying an additional 865,179 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jarrod Yahes sold 27,742 shares of Unity Software stock in a transaction 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 transaction, the chief financial officer owned 546,129 shares in the company, valued at $23,368,859.91. This trade represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Alexander Blum sold 1,988 shares of the business’s stock in a transaction on Friday, November 28th. The stock was 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 directly owned 561,130 shares of the company’s stock, valued at $23,831,191.10. This represents a 0.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,337,204 shares of company stock valued at $63,108,672 over the last 90 days. Company insiders own 3.61% of the company’s stock.

Unity Software Stock Performance

NYSE U opened at $18.23 on Friday. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $52.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $7.89 billion, a P/E ratio of -18.98, a P/E/G ratio of 9.92 and a beta of 2.04. The company has a fifty day moving average of $37.16 and a 200-day moving average of $39.08.

Unity Software (NYSE:U) last released its earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on U shares. Benchmark reissued a “hold” rating on shares of Unity Software in a report on Monday, February 2nd. The Goldman Sachs Group lowered their target price on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Arete Research raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, December 1st. Oppenheimer upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.52.

Unity Software Company 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.