Legal & General Group Plc Sells 54,985 Shares of Unity Software Inc. $U

Key Points

• Legal & General Group Plc reduced its stake in Unity Software by 13.4% in the fourth quarter, selling 54,985 shares and leaving it with 354,249 shares valued at about $15.65 million.
• Several other institutional investors also adjusted positions, and overall 73.46% of Unity Software shares are owned by institutions, showing continued strong institutional interest in the stock.
• Insiders have been selling shares as well: COO Alexander Blum and CAO Mark Barrysmith both sold stock recently, while analysts remain generally upbeat with a Moderate Buy consensus and a target price of $38.77.

Legal & General Group Plc cut its holdings in Unity Software Inc. (NYSE:U - Free Report) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 354,249 shares of the company's stock after selling 54,985 shares during the period. Legal & General Group Plc owned 0.08% of Unity Software worth $15,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company's stock valued at $29,000 after purchasing an additional 341 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Unity Software during the 4th quarter valued at $30,000. IFP Advisors Inc bought a new stake in shares of Unity Software during the 3rd quarter valued at $33,000. International Assets Investment Management LLC bought a new stake in shares of Unity Software during the 4th quarter valued at $36,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Unity Software during the 3rd quarter valued at $38,000. 73.46% of the stock is currently owned by institutional investors.

Insider Activity at Unity Software

In related news, COO Alexander Blum sold 2,099 shares of Unity Software stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. This trade represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer owned 370,654 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 204,526 shares of company stock worth $5,521,274 over the last ninety days. 0.77% of the stock is currently owned by company insiders.

Unity Software Price Performance

U stock opened at $32.15 on Tuesday. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $24.67 and a 200 day moving average price of $31.29. The stock has a market cap of $14.04 billion, a PE ratio of -20.48, a P/E/G ratio of 3.90 and a beta of 2.04.

Analyst Ratings Changes

U has been the subject of several research analyst reports. Needham & Company LLC raised their target price on shares of Unity Software from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Wells Fargo & Company raised their target price on shares of Unity Software from $29.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. BTIG Research raised their target price on shares of Unity Software from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Unity Software from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Benchmark reissued a "hold" rating on shares of Unity Software in a research note on Monday, February 2nd. One research 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.77.

Unity Software Company 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.

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