State of Wyoming trimmed its stake in Unity Software Inc. (NYSE:U – Free Report) by 45.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,587 shares of the company’s stock after selling 18,736 shares during the period. State of Wyoming’s holdings in Unity Software were worth $998,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after buying an additional 6,734,285 shares in the last quarter. Norges Bank purchased a new stake in shares of Unity Software during the 4th quarter valued at $230,285,000. Duquesne Family Office LLC purchased a new stake in shares of Unity Software during the 2nd quarter valued at $42,932,000. WT Asset Management Ltd bought a new stake in shares of Unity Software during the 4th quarter worth $57,626,000. Finally, FengHe Fund Management Pte. Ltd. grew its position in Unity Software by 287.0% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after acquiring an additional 1,284,400 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
U has been the topic of a number of research analyst reports. BTIG Research increased their target price on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Oppenheimer upgraded Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Tuesday, February 10th. Needham & Company LLC increased their price objective on Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 8th. UBS Group raised their price objective on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, Citigroup dropped their target price on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.71.
Unity Software Stock Down 4.7%
Shares of NYSE:U opened at $29.31 on Thursday. The stock has a market capitalization of $12.80 billion, a P/E ratio of -18.67, a price-to-earnings-growth ratio of 3.94 and a beta of 2.06. The stock’s 50-day moving average price is $25.13 and its 200-day moving average price is $31.17. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15.
Insider Activity at Unity Software
In other news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $652,890.78. Following the completion of the sale, the chief financial officer owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the transaction, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. This represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 198,321 shares of company stock worth $5,390,783 over the last three months. Corporate insiders own 0.77% of the company’s stock.
About Unity Software
Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.
The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.
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