Hsbc Holdings PLC Sells 164,674 Shares of Unity Software Inc. $U

Hsbc Holdings PLC lessened its holdings in shares of Unity Software Inc. (NYSE:U) by 44.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,100 shares of the company’s stock after selling 164,674 shares during the quarter. Hsbc Holdings PLC’s holdings in Unity Software were worth $9,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. REAP Financial Group LLC purchased a new stake in shares of Unity Software in the 4th quarter worth $28,000. Larson Financial Group LLC lifted its position in Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Unity Software during the fourth quarter valued at about $30,000. IFP Advisors Inc bought a new stake in Unity Software during the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC purchased a new stake in Unity Software in the fourth quarter worth about $36,000. Institutional investors own 73.46% of the company’s stock.

Unity Software Trading Up 5.6%

Shares of Unity Software stock opened at $28.21 on Friday. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $27.29 and a 200-day moving average price of $29.63. The firm has a market cap of $12.31 billion, a price-to-earnings ratio of -17.97, a PEG ratio of 3.42 and a beta of 2.06.

Wall Street Analyst Weigh In

Several research analysts have recently commented on U shares. Wall Street Zen downgraded Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. UBS Group boosted their price objective on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. BTIG Research increased their target price on shares of Unity Software from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup decreased their target price on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Bank of America lifted their price target on shares of Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, March 27th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and an average target price of $37.71.

Insider Buying and Selling at Unity Software

In related news, COO Alexander Blum sold 19,009 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $516,664.62. Following the completion of the transaction, the chief operating officer directly owned 730,069 shares of the company’s stock, valued at approximately $19,843,275.42. This trade represents a 2.54% 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, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer owned 370,654 shares in the company, valued at $10,074,375.72. This represents a 3.45% 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 have sold a total of 198,321 shares of company stock worth $5,390,783 over the last three months. 0.77% of the stock is owned by company insiders.

Unity Software Profile

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.