Amova Asset Management Americas Inc. Sells 760,324 Shares of Unity Software Inc. $U

Amova Asset Management Americas Inc. decreased its holdings in Unity Software Inc. (NYSE:U) by 40.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,111,451 shares of the company’s stock after selling 760,324 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Unity Software were worth $24,396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. REAP Financial Group LLC purchased a new stake in shares of Unity Software during the 4th quarter valued at about $28,000. Larson Financial Group LLC boosted its holdings in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Unity Software in the 4th quarter worth approximately $30,000. IFP Advisors Inc purchased a new stake in Unity Software during the 3rd quarter valued at $33,000. Finally, International Assets Investment Management LLC bought a new position in shares of Unity Software during the 4th quarter valued at $36,000. Institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling

In related news, COO Alexander Blum sold 19,009 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $516,664.62. Following the completion of the transaction, the chief operating officer owned 730,069 shares in the company, valued at approximately $19,843,275.42. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the transaction, the senior vice president directly owned 309,445 shares of the company’s stock, valued at $8,416,904. The trade was a 0.31% decrease in their ownership of the stock. 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 sold 198,321 shares of company stock worth $5,390,783 in the last quarter. 0.77% of the stock is owned by insiders.

Unity Software Stock Performance

NYSE 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. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The business has a 50-day moving average price of $28.44 and a 200-day moving average price of $27.68. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of -19.01, a price-to-earnings-growth ratio of 3.51 and a beta of 2.05.

Wall Street Analysts Forecast Growth

U has been the topic of several recent research reports. Raymond James Financial began coverage on shares of Unity Software in a research note on Monday, June 29th. They issued a “market perform” rating on the stock. Citigroup cut their target price on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Needham & Company LLC upped their target price on shares of Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Morgan Stanley lifted their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.77.

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.