Walter & Keenan Wealth Management LLC IN ADV lessened its stake in Unity Software Inc. (NYSE:U – Get Rating) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,266 shares of the company's stock after selling 3,028 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV's holdings in Unity Software were worth $1,004,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Northern Oak Wealth Management Inc. purchased a new position in Unity Software in the 4th quarter valued at approximately $25,000. Rockbridge Investment Management LCC purchased a new position in Unity Software in the 4th quarter valued at approximately $26,000. Tcwp LLC purchased a new position in Unity Software in the 1st quarter valued at approximately $26,000. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Unity Software during the 1st quarter valued at $28,000. Finally, San Luis Wealth Advisors LLC purchased a new position in shares of Unity Software during the 1st quarter valued at $31,000. Institutional investors own 77.37% of the company's stock.
Get Unity Software alerts:Unity Software Stock Down 7.7 %
U traded down $2.65 during midday trading on Thursday, reaching $31.78. The company's stock had a trading volume of 274,444 shares, compared to its average volume of 8,151,534. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of -15.23 and a beta of 1.90. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.75. Unity Software Inc. has a 1 year low of $29.09 and a 1 year high of $210.00. The stock's 50-day moving average is $42.14 and its 200-day moving average is $53.79.
Unity Software (NYSE:U – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.02). Unity Software had a negative return on equity of 22.71% and a negative net margin of 54.01%. The business had revenue of $297.00 million during the quarter, compared to analysts' expectations of $299.05 million. During the same quarter last year, the company posted ($0.34) EPS. Unity Software's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Unity Software Inc. will post -1.81 EPS for the current year.Insider Activity
In other news, SVP Marc Whitten sold 6,546 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.93, for a total transaction of $300,657.78. Following the sale, the senior vice president now owns 252,744 shares in the company, valued at $11,608,531.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Marc Whitten sold 6,546 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.93, for a total transaction of $300,657.78. Following the transaction, the senior vice president now owns 252,744 shares in the company, valued at $11,608,531.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Carol W. Carpenter sold 797 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $36.67, for a total transaction of $29,225.99. Following the transaction, the chief marketing officer now owns 219,600 shares in the company, valued at approximately $8,052,732. The disclosure for this sale can be found here. Insiders have sold a total of 26,367 shares of company stock worth $1,229,421 over the last 90 days. 6.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on U. Oppenheimer upped their target price on shares of Unity Software from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 10th. Benchmark began coverage on shares of Unity Software in a research report on Wednesday, June 15th. They issued a "sell" rating and a $27.00 target price for the company. KeyCorp began coverage on shares of Unity Software in a research report on Thursday, June 30th. They issued a "sector weight" rating for the company. BTIG Research lowered their price target on shares of Unity Software to $68.00 in a research note on Monday, August 15th. Finally, Barclays boosted their price target on shares of Unity Software from $35.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Unity Software has an average rating of "Moderate Buy" and an average target price of $70.93.
Unity Software Profile
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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.
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