Migdal Insurance & Financial Holdings Ltd. Sells 2,800 Shares of Unity Software Inc. (NYSE:U)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in shares of Unity Software Inc. (NYSE:U) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,565 shares of the company’s stock after selling 2,800 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Unity Software were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Unity Software by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock valued at $106,008,000 after acquiring an additional 413,474 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Unity Software by 100.4% in the 3rd 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 in the last quarter. Primecap Management Co. CA lifted its position in Unity Software by 7.1% in the 3rd quarter. Primecap Management Co. CA now owns 811,994 shares of the company’s stock valued at $18,367,000 after acquiring an additional 53,541 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Unity Software in the 3rd quarter valued at $12,317,000. Finally, Monolith Management Ltd bought a new stake in Unity Software in the 3rd quarter valued at $10,993,000. 73.46% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Shlomo Dovrat sold 3,750 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $17.99, for a total value of $67,462.50. Following the transaction, the director now owns 2,394,935 shares in the company, valued at approximately $43,084,880.65. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the transaction, the director now owns 4,248,146 shares in the company, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 931,154 shares of company stock valued at $21,019,520. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Macquarie boosted their price objective on shares of Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a research report on Friday, November 8th. 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. Needham & Company LLC boosted their price target on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer reissued a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.81.

Unity Software Stock Down 0.7 %

Shares of U stock opened at $21.05 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm’s 50-day moving average is $23.36 and its 200-day moving average is $20.61. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of -10.32 and a beta of 2.32. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $35.56.

Unity Software (NYSE:U) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. The company had revenue of $446.52 million for the quarter, compared to analysts’ expectations of $428.01 million. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. During the same period in the prior year, the firm earned ($0.12) EPS. Sell-side analysts predict that Unity Software Inc. will post -1.72 EPS for the current year.

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.