Y Intercept Hong Kong Ltd Lowers Holdings in Unity Software Inc. $U

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Unity Software Inc. (NYSE:U) by 72.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,424 shares of the company’s stock after selling 117,979 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Unity Software were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in U. Norges Bank bought a new stake in Unity Software during the second quarter valued at about $151,221,000. Slate Path Capital LP boosted its holdings in shares of Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after buying an additional 4,048,484 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Unity Software in the 3rd quarter worth approximately $106,233,000. Duquesne Family Office LLC bought a new position in shares of Unity Software during the 2nd quarter worth approximately $42,932,000. Finally, Ameriprise Financial Inc. lifted its position in Unity Software by 37.8% during the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after acquiring an additional 1,270,798 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler raised shares of Unity Software from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $43.00 to $59.00 in a report on Thursday, December 11th. Jefferies Financial Group upped their target price on Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Freedom Capital upgraded shares of Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. Needham & Company LLC boosted their target price on shares of Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Arete Research raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

Unity Software Trading Down 4.4%

Unity Software stock opened at $38.39 on Friday. The firm has a market cap of $16.43 billion, a PE ratio of -36.56, a P/E/G ratio of 42.10 and a beta of 2.04. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $52.15. The stock’s 50 day simple moving average is $44.18 and its two-hundred day simple moving average is $40.25. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the previous year, the business posted ($0.31) EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jarrod Yahes sold 27,742 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the completion of the transaction, the chief financial officer owned 546,129 shares in the company, valued at $23,368,859.91. This represents a 4.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Alexander Blum sold 1,988 shares of Unity Software stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $42.47, for a total value of $84,430.36. Following the completion of the sale, the chief operating officer directly owned 561,130 shares in the company, valued at $23,831,191.10. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,647,935 shares of company stock valued at $75,174,498. 3.61% of the stock is owned by insiders.

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.