Alta Park Capital LP Cuts Stock Position in Unity Software Inc. $U

Alta Park Capital LP lessened its position in Unity Software Inc. (NYSE:U - Free Report) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 312,807 shares of the company's stock after selling 105,843 shares during the quarter. Unity Software makes up 1.7% of Alta Park Capital LP's investment portfolio, making the stock its 28th largest holding. Alta Park Capital LP owned approximately 0.07% of Unity Software worth $13,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company's stock worth $1,570,389,000 after purchasing an additional 996,685 shares in the last quarter. Wellington Management Group LLP grew its stake in Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock worth $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Geode Capital Management LLC grew its stake in Unity Software by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company's stock worth $258,547,000 after purchasing an additional 328,595 shares in the last quarter. Norges Bank acquired a new position in Unity Software during the 4th quarter worth $230,285,000. Finally, Ameriprise Financial Inc. grew its stake in Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company's stock worth $112,006,000 after purchasing an additional 1,270,798 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays boosted their target price on Unity Software from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. BTIG Research boosted their target price on Unity Software from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Citizens Jmp reissued a "market outperform" rating and set a $37.00 target price on shares of Unity Software in a research note on Friday, March 27th. Piper Sandler assumed coverage on Unity Software in a research note on Tuesday, June 2nd. They set an "overweight" rating and a $40.00 target price for the company. Finally, Morgan Stanley boosted their target price on Unity Software from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.71.

Insider Buying and Selling at Unity Software

In other news, CAO Mark Barrysmith sold 13,247 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 19,009 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $516,664.62. Following the transaction, the chief operating officer directly owned 730,069 shares of the company's stock, valued at approximately $19,843,275.42. This represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 198,321 shares of company stock worth $5,390,783. Corporate insiders own 0.77% of the company's stock.

Unity Software Trading Down 5.6%

NYSE:U opened at $26.48 on Thursday. The stock has a 50-day simple moving average of $26.64 and a 200-day simple moving average of $30.36. The stock has a market cap of $11.56 billion, a P/E ratio of -16.87, a P/E/G ratio of 3.59 and a beta of 2.06. Unity Software Inc. has a 1 year low of $16.78 and a 1 year 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.

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.

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