Parallel Advisors LLC Cuts Holdings in Unity Software Inc. (NYSE:U)

Parallel Advisors LLC decreased its position in shares of Unity Software Inc. (NYSE:U) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 49,182 shares of the company’s stock after selling 1,331 shares during the quarter. Parallel Advisors LLC’s holdings in Unity Software were worth $1,105,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its position in shares of Unity Software by 2.1% during the fourth quarter. Swiss National Bank now owns 546,400 shares of the company’s stock valued at $12,278,000 after purchasing an additional 11,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Unity Software by 366.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after acquiring an additional 1,521,165 shares in the last quarter. Rakuten Securities Inc. grew its position in Unity Software by 124.1% in the fourth quarter. Rakuten Securities Inc. now owns 19,850 shares of the company’s stock worth $446,000 after acquiring an additional 10,994 shares in the last quarter. Farther Finance Advisors LLC grew its position in Unity Software by 3.5% in the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock worth $324,000 after acquiring an additional 488 shares in the last quarter. Finally, Marathon Trading Investment Management LLC purchased a new position in Unity Software in the fourth quarter worth about $1,591,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the transaction, the chief accounting officer now directly owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Helgason sold 38,924 shares of Unity Software stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the completion of the transaction, the director now directly owns 7,828,494 shares in the company, valued at $210,743,058.48. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 865,236 shares of company stock valued at $20,849,425 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Performance

Unity Software stock opened at $21.53 on Thursday. The company has a 50 day moving average price of $22.60 and a 200-day moving average price of $22.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. The company has a market capitalization of $8.82 billion, a PE ratio of -12.82 and a beta of 2.27.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. As a group, equities analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on U shares. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Barclays lifted their price target on Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Finally, Citigroup upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.61.

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.