Amova Asset Management Americas Inc. Sells 282,971 Shares of Unity Software Inc. $U

Amova Asset Management Americas Inc. lowered its position in Unity Software Inc. (NYSE:U) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,871,775 shares of the company’s stock after selling 282,971 shares during the period. Amova Asset Management Americas Inc.’s holdings in Unity Software were worth $82,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. raised its stake in shares of Unity Software by 12.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after acquiring an additional 308 shares in the last quarter. Xponance Inc. raised its stake in shares of Unity Software by 1.8% during the third quarter. Xponance Inc. now owns 18,291 shares of the company’s stock valued at $732,000 after acquiring an additional 328 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Unity Software by 3.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock valued at $656,000 after acquiring an additional 449 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Unity Software by 2.1% during the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after acquiring an additional 462 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Insider Activity

In related news, CEO Matthew S. Bromberg sold 138,993 shares of the company’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 $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. This represents a 8.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company’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 sale, the chief accounting officer directly 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. Over the last 90 days, insiders have sold 198,321 shares of company stock worth $5,390,783. Company insiders own 0.77% of the company’s stock.

Unity Software Trading Down 1.4%

Shares of Unity Software stock opened at $28.40 on Wednesday. The firm has a 50-day simple moving average of $26.00 and a two-hundred day simple moving average of $30.93. The company has a market cap of $12.40 billion, a P/E ratio of -18.09, a price-to-earnings-growth ratio of 3.68 and a beta of 2.06. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95.

Analysts Set New Price Targets

U has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Piper Sandler started coverage on shares of Unity Software in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 price objective for the company. Citigroup reduced their price objective on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Finally, Wedbush boosted their price objective on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and an average price target of $37.71.

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.