Hsbc Holdings PLC Reduces Stock Holdings in Unity Software Inc. $U

Hsbc Holdings PLC lowered its stake in shares of Unity Software Inc. (NYSE:U) by 44.7% during the 4th quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of U. Vanguard Group Inc. lifted its position in Unity Software by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after buying an additional 996,685 shares during the last quarter. Wellington Management Group LLP increased its position in Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after acquiring an additional 6,734,285 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Unity Software by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after acquiring an additional 328,595 shares during the period. Norges Bank purchased a new stake in shares of Unity Software in the fourth quarter valued at $230,285,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Unity Software by 37.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after acquiring an additional 1,270,798 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling at Unity Software

In other news, SVP Rebecca Berenice Boyden sold 952 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the transaction, the senior vice president directly owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Unity Software stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the sale, the chief accounting officer directly owned 370,654 shares of the company’s stock, valued at $10,074,375.72. This represents a 3.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is owned by corporate insiders.

Unity Software Trading Up 5.6%

Shares of U opened at $28.21 on Friday. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a 50-day moving average of $27.29 and a 200 day moving average of $29.63. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of -17.97, a PEG ratio of 3.42 and a beta of 2.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America lifted their price target on shares of Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. Wells Fargo & Company raised their price objective on shares of Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citizens Jmp restated a “market outperform” rating and set a $37.00 target price on shares of Unity Software in a research report on Friday, March 27th. Wall Street Zen cut Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Citigroup reduced their price target on Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and an average target price of $37.71.

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.