Daiwa Securities Group Inc. Trims Stock Position in Unity Software Inc. (NYSE:U)

Daiwa Securities Group Inc. trimmed its stake in Unity Software Inc. (NYSE:U) by 84.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,560 shares of the company’s stock after selling 18,688 shares during the period. Daiwa Securities Group Inc.’s holdings in Unity Software were worth $81,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of U. Charles Schwab Investment Management Inc. boosted its holdings in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after acquiring an additional 944,709 shares during the period. Van ECK Associates Corp boosted its stake in Unity Software by 35.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock worth $31,805,000 after purchasing an additional 507,274 shares during the period. Bank of New York Mellon Corp grew its position in Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after purchasing an additional 424,806 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Unity Software by 161.3% in the second quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company’s stock valued at $9,417,000 after purchasing an additional 357,500 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after buying an additional 330,088 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Performance

Shares of U opened at $24.11 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $21.31 and a two-hundred day moving average of $18.63. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54. The stock has a market cap of $9.71 billion, a P/E ratio of -11.82 and a beta of 2.29.

Analysts Set New Price Targets

A number of research firms have recently issued reports on U. Piper Sandler reissued a “neutral” rating and issued a $17.00 target price (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Wells Fargo & Company initiated coverage on shares of Unity Software in a research report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price objective for the company. Stifel Nicolaus boosted their target price on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Needham & Company LLC raised their price target on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.35.

Insider Activity at Unity Software

In other Unity Software news, CFO Mark Barrysmith sold 8,112 shares of Unity Software stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.38, for a total value of $197,770.56. Following the completion of the sale, the chief financial officer now directly owns 454,866 shares of the company’s stock, valued at approximately $11,089,633.08. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 11,719 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.39, for a total value of $285,826.41. Following the transaction, the senior vice president now directly owns 411,960 shares in the company, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 554,381 shares of company stock valued at $10,631,723. 6.30% of the stock is owned by corporate insiders.

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.