Unity Software Inc. $U Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its holdings in shares of Unity Software Inc. (NYSE:U) by 18.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,154,746 shares of the company’s stock after selling 473,185 shares during the period. Amova Asset Management Americas Inc. owned about 0.50% of Unity Software worth $86,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new stake in Unity Software during the second quarter worth about $205,000. Vanguard Group Inc. increased its holdings in shares of Unity Software by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after purchasing an additional 930,293 shares in the last quarter. Austin Wealth Management LLC acquired a new position in shares of Unity Software in the 2nd quarter valued at $208,000. PNC Financial Services Group Inc. boosted its holdings in Unity Software by 148.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after buying an additional 13,245 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd boosted its holdings in Unity Software by 43.6% during the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock worth $114,091,000 after buying an additional 865,179 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

U stock opened at $20.31 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day simple moving average of $32.95 and a 200-day simple moving average of $38.19. The firm has a market capitalization of $8.79 billion, a PE ratio of -21.16, a price-to-earnings-growth ratio of 10.74 and a beta of 2.14. Unity Software Inc. has a 1 year low of $15.33 and a 1 year high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $503.09 million for the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) earnings per share. Equities research analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other news, COO Alexander Blum sold 2,541 shares of Unity Software stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.76, for a total transaction of $47,669.16. Following the sale, the chief operating officer owned 548,425 shares of the company’s stock, valued at approximately $10,288,453. The trade was a 0.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Barrysmith sold 10,578 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $191,144.46. Following the completion of the transaction, the chief accounting officer owned 383,901 shares of the company’s stock, valued at $6,937,091.07. The trade was a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 933,233 shares of company stock valued at $45,387,419 in the last three months. 3.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

U has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. UBS Group reduced their price target on Unity Software from $46.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, February 10th. Wedbush cut their price objective on Unity Software from $37.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Morgan Stanley increased their target price on Unity Software from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Unity Software in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.73.

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.