PNC Financial Services Group Inc. Grows Holdings in Unity Software Inc. (NYSE:U)

PNC Financial Services Group Inc. increased its stake in Unity Software Inc. (NYSE:UFree Report) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,649 shares of the company’s stock after buying an additional 1,064 shares during the period. PNC Financial Services Group Inc.’s holdings in Unity Software were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new position in Unity Software during the 4th quarter worth approximately $27,000. Huntington National Bank boosted its holdings in Unity Software by 665.0% in the third quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after purchasing an additional 778 shares during the period. GAMMA Investing LLC bought a new stake in Unity Software during the fourth quarter valued at $28,000. Pacifica Partners Inc. acquired a new stake in shares of Unity Software during the fourth quarter worth $33,000. Finally, Principal Securities Inc. bought a new position in shares of Unity Software in the 4th quarter worth about $37,000. Institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup dropped their price objective on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Benchmark reiterated a “sell” rating and set a $16.00 price target on shares of Unity Software in a research report on Friday, May 10th. Barclays reduced their price objective on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 target price on shares of Unity Software in a research report on Friday, May 10th. Finally, Piper Sandler raised shares of Unity Software from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Unity Software presently has a consensus rating of “Hold” and a consensus target price of $35.38.

Get Our Latest Stock Analysis on Unity Software

Unity Software Price Performance

NYSE:U opened at $18.03 on Friday. Unity Software Inc. has a 52-week low of $17.33 and a 52-week high of $50.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The firm has a market cap of $7.05 billion, a P/E ratio of -8.05 and a beta of 2.28. The business’s 50-day moving average price is $22.88 and its 200 day moving average price is $29.22.

Unity Software (NYSE:UGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.13. The firm had revenue of $460.38 million during the quarter, compared to analysts’ expectations of $422.53 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. As a group, sell-side analysts predict that Unity Software Inc. will post -1.81 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In related news, insider Marc Whitten sold 86,768 shares of Unity Software stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total value of $1,787,420.80. Following the transaction, the insider now owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Marc Whitten sold 86,768 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the sale, the insider now owns 2,483 shares in the company, valued at approximately $51,149.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $24.42, for a total transaction of $25,323.54. Following the transaction, the senior vice president now owns 386,706 shares in the company, valued at $9,443,360.52. The disclosure for this sale can be found here. Insiders sold a total of 246,297 shares of company stock valued at $4,872,320 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Unity Software Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Unity Software (NYSE:U)

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