Stifel Financial Corp Lowers Stock Position in Unity Software Inc. (NYSE:U)

Stifel Financial Corp cut its position in shares of Unity Software Inc. (NYSE:U) by 11.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 205,285 shares of the company’s stock after selling 27,091 shares during the quarter. Stifel Financial Corp’s holdings in Unity Software were worth $4,644,000 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 company. Quantinno Capital Management LP grew its stake in Unity Software by 1,169.2% in the 3rd quarter. Quantinno Capital Management LP now owns 198,810 shares of the company’s stock valued at $4,497,000 after purchasing an additional 183,146 shares during the period. Quarry LP boosted its holdings in shares of Unity Software by 232.0% in the 3rd quarter. Quarry LP now owns 4,422 shares of the company’s stock worth $100,000 after buying an additional 3,090 shares during the last quarter. Janus Henderson Group PLC grew its position in Unity Software by 463.7% during the third quarter. Janus Henderson Group PLC now owns 119,000 shares of the company’s stock valued at $2,691,000 after buying an additional 97,889 shares during the period. Benjamin Edwards Inc. increased its holdings in Unity Software by 7,349.6% during the third quarter. Benjamin Edwards Inc. now owns 26,893 shares of the company’s stock worth $608,000 after buying an additional 26,532 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Unity Software in the third quarter worth about $12,317,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Stock Down 6.4 %

U stock opened at $24.44 on Monday. The stock has a 50-day simple moving average of $22.15 and a two-hundred day simple moving average of $19.04. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54. The firm has a market capitalization of $9.85 billion, a PE ratio of -11.98 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price objective on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, September 13th. Wells Fargo & Company assumed coverage on Unity Software in a research note on Monday, October 28th. They issued an “equal weight” rating and a $20.00 target price on the stock. UBS Group upped their price target on Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wedbush lifted their price objective on Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.35.

Insider Activity

In other Unity Software news, SVP Felix The sold 11,719 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.39, for a total value of $285,826.41. Following the sale, the senior vice president now owns 411,960 shares of the company’s stock, valued at $10,047,704.40. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Helgason sold 7,860 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total value of $207,897.00. Following the transaction, the director now directly owns 10,493 shares of the company’s stock, valued at $277,539.85. The trade was a 42.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,241 shares of company stock worth $11,212,320. 6.30% of the stock is owned by company insiders.

Unity Software 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.