Amova Asset Management Americas Inc. Lowers Stake in Unity Software Inc. $U

Amova Asset Management Americas Inc. reduced its stake in shares of Unity Software Inc. (NYSE:U) by 40.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,111,451 shares of the company’s stock after selling 760,324 shares during the period. Amova Asset Management Americas Inc. owned approximately 0.25% of Unity Software worth $24,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock valued at $1,570,389,000 after purchasing an additional 996,685 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after buying an additional 6,734,285 shares during the period. Geode Capital Management LLC lifted its stake in shares of Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after acquiring an additional 328,595 shares during the last quarter. Norges Bank bought a new stake in shares of Unity Software in the 4th quarter valued at about $230,285,000. Finally, Ameriprise Financial Inc. boosted its holdings in Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after acquiring an additional 1,270,798 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Unity Software news, SVP Rebecca Berenice Boyden sold 952 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total value of $25,894.40. Following the completion of the transaction, the senior vice president directly owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at approximately $42,333,230.52. This represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by insiders.

Unity Software Stock Performance

Shares of U opened at $29.85 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock has a market cap of $13.03 billion, a P/E ratio of -19.01, a P/E/G ratio of 3.51 and a beta of 2.05. The business’s 50 day moving average price is $28.44 and its 200-day moving average price is $27.68. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15.

Analysts Set New Price Targets

Several brokerages recently commented on U. Citigroup decreased their target price on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen cut shares of Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Wedbush raised their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Citizens Jmp reiterated a “market outperform” rating and set a $37.00 target price on shares of Unity Software in a report on Friday, March 27th. Finally, Barclays boosted their target price on Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Unity Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.77.

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.