Newbridge Financial Services Group Inc. Cuts Stake in Unity Software Inc. (NYSE:U)

Newbridge Financial Services Group Inc. cut its holdings in Unity Software Inc. (NYSE:UFree Report) by 30.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,308 shares of the company’s stock after selling 1,010 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Unity Software were worth $94,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Unity Software by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 26,128,209 shares of the company’s stock worth $1,068,382,000 after acquiring an additional 308,412 shares in the last quarter. ARK Investment Management LLC lifted its position in Unity Software by 6.2% during the fourth quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company’s stock valued at $498,440,000 after purchasing an additional 712,579 shares during the last quarter. Norges Bank purchased a new position in shares of Unity Software in the 4th quarter worth $379,180,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Unity Software by 14.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company’s stock worth $373,392,000 after buying an additional 1,170,058 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Unity Software by 15.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,539,489 shares of the company’s stock valued at $349,094,000 after buying an additional 1,169,841 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Down 0.2 %

NYSE:U traded down $0.03 during mid-day trading on Tuesday, hitting $16.43. The company had a trading volume of 1,180,340 shares, compared to its average volume of 9,679,830. The business has a fifty day simple moving average of $21.64 and a 200-day simple moving average of $28.64. Unity Software Inc. has a 1 year low of $15.97 and a 1 year high of $50.08. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:UGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. The company had revenue of $460.38 million for the quarter, compared to analyst estimates of $422.53 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. As a group, equities analysts expect that Unity Software Inc. will post -1.81 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on U. Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Unity Software in a report on Friday, May 10th. Barclays decreased their target price on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Stifel Nicolaus lowered their price objective on shares of Unity Software from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $30.00 in a report on Tuesday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of Unity Software in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.79.

Read Our Latest Analysis on Unity Software

Insider Activity

In other news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.58, for a total transaction of $53,160.00. Following the completion of the sale, the chief marketing officer now owns 444,617 shares of the company’s stock, valued at $11,817,919.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.58, for a total transaction of $53,160.00. Following the sale, the chief marketing officer now owns 444,617 shares in the company, valued at $11,817,919.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $24.42, for a total value of $25,323.54. Following the completion of the transaction, the senior vice president now owns 386,706 shares of the company’s stock, valued at approximately $9,443,360.52. The disclosure for this sale can be found here. Insiders sold 246,297 shares of company stock worth $4,872,320 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Unity Software Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Unity Software (NYSE:U)

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