Rockefeller Capital Management L.P. Cuts Stake in Unity Software Inc. $U

Rockefeller Capital Management L.P. lessened its holdings in shares of Unity Software Inc. (NYSE:U) by 71.5% during the 4th quarter, Holdings Channel reports. The firm owned 7,308 shares of the company’s stock after selling 18,292 shares during the period. Rockefeller Capital Management L.P.’s holdings in Unity Software were worth $323,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in U. Cinctive Capital Management LP purchased a new position in shares of Unity Software in the third quarter worth $4,727,000. WINTON GROUP Ltd purchased a new position in Unity Software during the third quarter valued at $11,918,000. Massachusetts Financial Services Co. MA increased its holdings in Unity Software by 9.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company’s stock valued at $128,350,000 after acquiring an additional 252,648 shares during the last quarter. FengHe Fund Management Pte. Ltd. increased its holdings in Unity Software by 287.0% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock valued at $76,503,000 after acquiring an additional 1,284,400 shares during the last quarter. Finally, KBC Group NV lifted its stake in Unity Software by 511.9% in the 4th quarter. KBC Group NV now owns 51,960 shares of the company’s stock worth $2,295,000 after purchasing an additional 43,468 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 24,021 shares of Unity Software stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the transaction, the chief financial officer owned 704,360 shares in the company, valued at approximately $19,144,504.80. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $3,777,829.74. Following the transaction, the chief executive officer directly owned 1,557,514 shares in the company, valued at approximately $42,333,230.52. This represents a 8.19% 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. Insiders sold a total of 198,321 shares of company stock valued at $5,390,783 over the last ninety days. 0.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

U has been the subject of a number of research analyst reports. Piper Sandler began coverage on Unity Software in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 price objective for the company. Needham & Company LLC increased their price target on Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Raymond James Financial started coverage on Unity Software in a research note on Monday, June 29th. They set a “market perform” rating for the company. Citigroup cut their price target on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, UBS Group lifted their price objective on Unity Software from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given 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 a consensus target price of $37.77.

Unity Software Stock Up 2.2%

Shares of NYSE:U opened at $30.29 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a 50-day moving average price of $27.73 and a 200 day moving average price of $28.73. The company has a market cap of $13.22 billion, a price-to-earnings ratio of -19.26, a PEG ratio of 3.55 and a beta of 2.05.

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.