Primecap Management Co. CA Sells 150,700 Shares of Unity Software Inc. (NYSE:U)

Primecap Management Co. CA cut its position in Unity Software Inc. (NYSE:U) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 661,294 shares of the company’s stock after selling 150,700 shares during the period. Primecap Management Co. CA’s holdings in Unity Software were worth $14,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Unity Software in the fourth quarter valued at approximately $30,000. Principal Securities Inc. lifted its position in shares of Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares during the period. GAMMA Investing LLC grew its holdings in shares of Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Unity Software in the fourth quarter worth $40,000. Finally, Brooklyn Investment Group acquired a new position in Unity Software in the third quarter valued at about $43,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Trading Up 1.8 %

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

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.40% and a negative net margin of 36.63%. On average, sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Insiders Place Their Bets

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total value of $6,255,000.00. Following the completion of the sale, the director now directly owns 3,648,146 shares of the company’s stock, valued at $91,276,612.92. The trade was a 6.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Anirma Gupta sold 31,948 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the completion of the transaction, the senior vice president now owns 542,942 shares in the company, valued at approximately $13,698,426.66. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 865,236 shares of company stock worth $20,849,425. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Unity Software from $27.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. UBS Group boosted their price objective on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Morgan Stanley raised their target price on Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $27.00 price target on shares of Unity Software in a report on Thursday, February 13th. Finally, Barclays raised their price objective on Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.61.

About Unity Software

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.