Capital International Investors Sells 2,054,197 Shares of Unity Software Inc. $U

Capital International Investors reduced its holdings in shares of Unity Software Inc. (NYSE:U) by 10.1% during the fourth quarter, Holdings Channel reports. The fund owned 18,370,198 shares of the company’s stock after selling 2,054,197 shares during the period. Capital International Investors’ holdings in Unity Software were worth $811,421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of U. Vanguard Group Inc. lifted its stake in Unity Software by 2.8% in the third quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock worth $1,383,647,000 after acquiring an additional 930,293 shares during the period. Principal Financial Group Inc. lifted its stake in Unity Software by 46.5% in the third quarter. Principal Financial Group Inc. now owns 211,686 shares of the company’s stock worth $8,476,000 after acquiring an additional 67,219 shares during the period. ARK Investment Management LLC lifted its stake in Unity Software by 10.8% in the third quarter. ARK Investment Management LLC now owns 976,973 shares of the company’s stock worth $39,118,000 after acquiring an additional 95,341 shares during the period. Cinctive Capital Management LP purchased a new stake in Unity Software in the third quarter worth $4,727,000. Finally, WINTON GROUP Ltd purchased a new stake in Unity Software in the third quarter worth $11,918,000. 73.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the completion of the transaction, the chief accounting officer owned 370,654 shares in the company, valued at approximately $10,074,375.72. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the completion of the transaction, the senior vice president owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. This trade represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 198,321 shares of company stock valued at $5,390,783 in the last 90 days. Corporate insiders own 0.77% of the company’s stock.

Unity Software Price Performance

U opened at $29.15 on Monday. The stock has a fifty day simple moving average of $25.59 and a two-hundred day simple moving average of $31.07. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a market cap of $12.72 billion, a price-to-earnings ratio of -18.56, a price-to-earnings-growth ratio of 3.73 and a beta of 2.06. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15.

Wall Street Analyst Weigh In

A number of brokerages recently commented on U. UBS Group raised their price target on Unity Software from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Citigroup dropped their price target on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Bank of America raised their price target on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. Piper Sandler began coverage on Unity Software in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 price target for the company. Finally, Needham & Company LLC raised their price target on Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.71.

Unity Software Company 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.