Taconic Capital Advisors LP Sells 10,000 Shares of Unity Software Inc. (NYSE:U)

Taconic Capital Advisors LP reduced its stake in Unity Software Inc. (NYSE:U) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,000 shares of the company’s stock after selling 10,000 shares during the period. Unity Software comprises 0.5% of Taconic Capital Advisors LP’s investment portfolio, making the stock its 14th largest position. Taconic Capital Advisors LP’s holdings in Unity Software were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avanza Fonder AB bought a new stake in shares of Unity Software in the fourth quarter worth about $732,000. Ariose Capital Management Ltd purchased a new stake in Unity Software in the 4th quarter worth approximately $2,299,000. Encompass More Asset Management bought a new stake in shares of Unity Software in the 4th quarter worth approximately $1,501,000. SteelPeak Wealth LLC bought a new stake in shares of Unity Software in the 4th quarter worth approximately $221,000. Finally, R Squared Ltd purchased a new position in shares of Unity Software during the fourth quarter valued at approximately $30,000. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the subject of a number of research analyst reports. Macquarie started coverage on Unity Software in a research note on Monday, March 10th. They issued a “neutral” rating and a $24.00 price target for the company. Morgan Stanley reduced their price target on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a report on Friday, February 21st. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Friday, February 21st. Finally, Jefferies Financial Group decreased their target price on Unity Software from $24.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.21.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total value of $30,243.60. Following the completion of the transaction, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $21.59, for a total transaction of $3,598,340.53. Following the sale, the director now owns 2,814,812 shares in the company, valued at approximately $60,771,791.08. The trade was a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 783,645 shares of company stock worth $18,063,816 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Performance

Unity Software stock opened at $22.77 on Monday. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $9.46 billion, a P/E ratio of -13.55 and a beta of 2.29. The stock’s 50 day moving average is $20.52 and its 200 day moving average is $22.06.

Unity Software (NYSE:U) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The firm had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.77 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal 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.