WINTON GROUP Ltd Lowers Position in Unity Software Inc. $U

WINTON GROUP Ltd cut its holdings in shares of Unity Software Inc. (NYSE:U) by 58.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 124,801 shares of the company’s stock after selling 172,858 shares during the quarter. WINTON GROUP Ltd’s holdings in Unity Software were worth $5,512,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after purchasing an additional 996,685 shares during the period. Wellington Management Group LLP grew its holdings in shares of Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the period. Geode Capital Management LLC grew its holdings in shares of Unity Software by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after purchasing an additional 328,595 shares during the period. Norges Bank purchased a new position in shares of Unity Software during the 4th quarter worth $230,285,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after purchasing an additional 1,270,798 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on U shares. Wall Street Zen cut Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. UBS Group raised their target price on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Piper Sandler started coverage on Unity Software in a report on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 target price for the company. BTIG Research raised their target price on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Barclays raised their target price on Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a report 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.71.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the sale, the chief accounting officer owned 370,654 shares of the company’s stock, valued at $10,074,375.72. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total value of $25,894.40. Following the completion of the sale, the senior vice president directly owned 309,445 shares in the company, valued at $8,416,904. This represents a 0.31% 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 198,321 shares of company stock worth $5,390,783 over the last ninety days. Company insiders own 0.77% of the company’s stock.

Unity Software Price Performance

U stock opened at $29.15 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $12.72 billion, a P/E ratio of -18.56, a P/E/G ratio of 3.73 and a beta of 2.06. The business’s 50-day moving average is $25.59 and its two-hundred day moving average is $31.11. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15.

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.