Unity Software Inc. (NYSE:U) Stock Position Reduced by Westpac Banking Corp

Westpac Banking Corp cut its stake in shares of Unity Software Inc. (NYSE:U) by 95.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 721 shares of the company’s stock after selling 16,167 shares during the period. Westpac Banking Corp’s holdings in Unity Software were worth $31,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in U. Meitav Investment House Ltd. acquired a new stake in Unity Software in the second quarter valued at approximately $30,000. Bessemer Group Inc. acquired a new stake in Unity Software in the first quarter valued at approximately $33,000. Ameritas Advisory Services LLC acquired a new stake in Unity Software in the first quarter valued at approximately $43,000. Manchester Capital Management LLC acquired a new stake in shares of Unity Software in the first quarter worth $44,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Unity Software in the first quarter worth $62,000. 64.74% of the stock is owned by hedge funds and other institutional investors.

Unity Software Stock Up 0.8 %

Shares of NYSE U opened at $29.45 on Tuesday. The firm’s 50-day simple moving average is $29.35 and its 200 day simple moving average is $34.53. The company has a market cap of $11.19 billion, a price-to-earnings ratio of -12.69 and a beta of 2.45. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.83. Unity Software Inc. has a 12-month low of $22.20 and a 12-month high of $50.08.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director Robynne Sisco sold 25,768 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $40.00, for a total transaction of $1,030,720.00. Following the transaction, the director now directly owns 14,700 shares in the company, valued at approximately $588,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robynne Sisco sold 25,768 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $40.00, for a total transaction of $1,030,720.00. Following the completion of the sale, the director now directly owns 14,700 shares of the company’s stock, valued at approximately $588,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luis Felipe Visoso sold 3,334 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $30.00, for a total value of $100,020.00. Following the sale, the chief financial officer now directly owns 706,741 shares of the company’s stock, valued at $21,202,230. The disclosure for this sale can be found here. In the last three months, insiders have sold 968,337 shares of company stock worth $28,155,257. Company insiders own 9.00% of the company’s stock.

Wall Street Analyst Weigh In

U has been the subject of a number of analyst reports. Macquarie cut shares of Unity Software from an “outperform” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Friday, November 10th. Bank of America restated a “buy” rating and issued a $56.00 price objective on shares of Unity Software in a research note on Monday, September 25th. Stifel Nicolaus reduced their price objective on shares of Unity Software from $40.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Cannonball Research began coverage on shares of Unity Software in a research note on Monday, September 18th. They set a “neutral” rating for the company. Finally, The Goldman Sachs Group cut their target price on shares of Unity Software from $45.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, November 13th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.80.

Unity Software Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.