Unity Software Inc. (NYSE:U) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Unity Software Inc. (NYSE:U) by 2,665.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 342,472 shares of the company’s stock after acquiring an additional 330,088 shares during the quarter. CIBC Asset Management Inc owned about 0.09% of Unity Software worth $7,747,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Unity Software by 343.8% during the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 949 shares in the last quarter. Planning Capital Management Corp bought a new stake in Unity Software during the third quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Unity Software by 163.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after buying an additional 1,389 shares in the last quarter. Blue Trust Inc. boosted its stake in Unity Software by 308.8% in the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after purchasing an additional 2,359 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Unity Software by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after purchasing an additional 562 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Down 8.0 %

Unity Software stock opened at $17.34 on Monday. The company has a market capitalization of $6.99 billion, a P/E ratio of -8.50 and a beta of 2.29. The firm’s fifty day simple moving average is $20.67 and its 200-day simple moving average is $18.72. The company has a current ratio of 2.41, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $43.54.

Insider Activity

In other news, SVP Felix The sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Helgason sold 250,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,800 shares of company stock worth $5,700,664. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays raised their price objective on shares of Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Macquarie raised their price objective on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. UBS Group raised their price objective on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wedbush lifted their target price on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.35.

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.