KRS Capital Management LLC Decreases Stake in Unity Software Inc. (NYSE:U)

KRS Capital Management LLC cut its holdings in Unity Software Inc. (NYSE:U) by 20.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,445 shares of the company’s stock after selling 2,170 shares during the quarter. KRS Capital Management LLC’s holdings in Unity Software were worth $225,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Northern Trust Corp boosted its position in Unity Software by 4.8% during the third quarter. Northern Trust Corp now owns 1,583,326 shares of the company’s stock worth $49,701,000 after purchasing an additional 72,770 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after acquiring an additional 6,004,655 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Unity Software by 26.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after acquiring an additional 7,484 shares in the last quarter. Seldon Capital LP purchased a new stake in shares of Unity Software in the fourth quarter valued at $7,576,000. Finally, Natixis Advisors L.P. lifted its position in shares of Unity Software by 3.2% in the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after acquiring an additional 407 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

U has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on Unity Software from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Stifel Nicolaus dropped their target price on Unity Software from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Wedbush reiterated an “outperform” rating and issued a $33.50 target price on shares of Unity Software in a research note on Friday, May 10th. Barclays dropped their price target on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, Macquarie dropped their price target on Unity Software from $20.00 to $14.00 and set an “underperform” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.47.

Unity Software Stock Performance

Shares of Unity Software stock traded down $0.28 on Friday, reaching $16.26. 9,040,985 shares of the company were exchanged, compared to its average volume of 8,107,461. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. The company’s 50-day moving average is $20.10 and its two-hundred day moving average is $27.69. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of -7.25 and a beta of 2.28. Unity Software Inc. has a 1-year low of $15.23 and a 1-year high of $50.08.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.13. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The business had revenue of $460.38 million for the quarter, compared to analysts’ expectations of $422.53 million. As a group, research analysts expect that Unity Software Inc. will post -1.81 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction 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 transaction, the chief marketing officer now directly owns 444,617 shares in the company, valued at approximately $11,817,919.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief marketing officer now directly owns 444,617 shares of the company’s stock, valued at approximately $11,817,919.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anirma Gupta sold 1,037 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 386,706 shares of the company’s stock, valued at $9,443,360.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 247,736 shares of company stock worth $4,885,280. 6.30% of the stock is owned by company 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.