Allianz Asset Management GmbH Sells 14,000 Shares of Unity Software Inc. (NYSE:U)

Key Points

• Allianz Asset Management GmbH sold 14,000 shares of Unity Software, reducing its holdings by 51.5%, leaving it with a total of 13,200 shares valued at $259,000.
• Unity Software's stock has seen numerous analyst rating changes, with price targets ranging from $19.00 to $35.00, indicating an overall average rating of "Hold" and a consensus target price of $27.22.
• Insider selling activity has been notable, with CEO Matthew S. Bromberg selling 133,072 shares and Director Tomer Bar-Zeev selling 250,000 shares, indicating a 9.81% and 9.44% reduction in their positions, respectively.

Allianz Asset Management GmbH decreased its position in Unity Software Inc. (NYSE:U - Free Report) by 51.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,200 shares of the company's stock after selling 14,000 shares during the quarter. Allianz Asset Management GmbH's holdings in Unity Software were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in U. Cornerstone Planning Group LLC lifted its position in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after purchasing an additional 1,212 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software during the fourth quarter valued at $36,000. Itau Unibanco Holding S.A. boosted its holdings in Unity Software by 150.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock valued at $40,000 after acquiring an additional 1,068 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock worth $55,000 after purchasing an additional 1,186 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on U. Barclays lowered their target price on shares of Unity Software from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $39.00 price target on shares of Unity Software in a report on Wednesday, July 30th. Bank of America started coverage on Unity Software in a report on Thursday, June 26th. They set an "underperform" rating and a $15.00 target price on the stock. Citigroup boosted their target price on Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, UBS Group lifted their price objective on Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.22.

Unity Software Trading Up 6.7%

NYSE:U traded up $2.12 on Monday, reaching $33.95. 16,322,067 shares of the stock traded hands, compared to its average volume of 15,907,539. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of -30.31 and a beta of 2.32. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. The company's 50 day moving average is $27.50 and its 200-day moving average is $23.64. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $38.96.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company's quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, Director Shlomo Dovrat sold 50,000 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the transaction, the director owned 189,089 shares in the company, valued at $5,674,560.89. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the completion of the sale, the director directly owned 2,398,146 shares in the company, valued at approximately $63,287,072.94. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,110,142 shares of company stock worth $27,963,282. Company insiders own 3.61% of the company's stock.

Unity Software Profile

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.