California Public Employees Retirement System Trims Stock Position in Unity Software Inc. (NYSE:U)

California Public Employees Retirement System decreased its stake in Unity Software Inc. (NYSE:U) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 379,489 shares of the company’s stock after selling 23,160 shares during the quarter. California Public Employees Retirement System’s holdings in Unity Software were worth $8,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Unity Software in the fourth quarter worth about $30,000. Principal Securities Inc. increased its stake in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares in the last quarter. GAMMA Investing LLC raised its holdings in Unity Software by 33.6% in 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 during the period. Whipplewood Advisors LLC purchased a new position in Unity Software during the fourth quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp grew its holdings in Unity Software by 144.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,902 shares of the company’s stock valued at $43,000 after purchasing an additional 1,125 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Unity Software

In other Unity Software news, Director David Helgason sold 38,924 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the transaction, the director now directly owns 7,828,494 shares in the company, valued at $210,743,058.48. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total value of $3,340,006.68. Following the transaction, the director now owns 2,981,479 shares of the company’s stock, valued at approximately $59,748,839.16. This represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 781,903 shares of company stock worth $17,934,432. 6.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays upped their target price on Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. Needham & Company LLC lifted their price objective on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 21st. UBS Group increased their target price on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group dropped their price target on Unity Software from $28.00 to $24.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and an average target price of $25.32.

Unity Software Stock Performance

NYSE:U opened at $16.95 on Monday. The company’s 50-day moving average is $22.25 and its two-hundred day moving average is $22.29. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of -10.09 and a beta of 2.31.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

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.