Amova Asset Management Americas Inc. Trims Holdings in Unity Software Inc. $U

Amova Asset Management Americas Inc. lessened its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,871,775 shares of the company's stock after selling 282,971 shares during the period. Amova Asset Management Americas Inc. owned about 0.44% of Unity Software worth $82,639,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Unity Software by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company's stock valued at $1,383,647,000 after purchasing an additional 930,293 shares during the period. Principal Financial Group Inc. raised its position in shares of Unity Software by 46.5% in the 3rd quarter. Principal Financial Group Inc. now owns 211,686 shares of the company's stock worth $8,476,000 after acquiring an additional 67,219 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Unity Software by 10.8% in the 3rd quarter. ARK Investment Management LLC now owns 976,973 shares of the company's stock worth $39,118,000 after acquiring an additional 95,341 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of Unity Software in the 3rd quarter worth approximately $4,727,000. Finally, WINTON GROUP Ltd bought a new position in shares of Unity Software in the 3rd quarter worth approximately $11,918,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Price Performance

Shares of Unity Software stock opened at $28.40 on Wednesday. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The stock's fifty day moving average is $26.00 and its 200 day moving average is $30.93. The stock has a market cap of $12.40 billion, a P/E ratio of -18.09, a P/E/G ratio of 3.68 and a beta of 2.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95.

Insiders Place Their Bets

In related news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the transaction, the chief financial officer owned 704,360 shares of the company's stock, valued at approximately $19,144,504.80. This trade represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the transaction, the chief operating officer directly owned 727,970 shares of the company's stock, valued at approximately $19,924,538.90. The trade was a 0.29% 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. Insiders have sold a total of 198,321 shares of company stock worth $5,390,783 in the last three months. 0.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on U shares. Wall Street Zen lowered Unity Software from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. UBS Group boosted their price target on Unity Software from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Citigroup dropped their price target on Unity Software from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. BTIG Research boosted their price target on Unity Software from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Barclays boosted their price target on Unity Software from $28.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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