Unity Software Inc. $U is Resolute Advisors LLC’s 5th Largest Position

Resolute Advisors LLC reduced its position in Unity Software Inc. (NYSE:U) by 48.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 831,379 shares of the company’s stock after selling 790,050 shares during the period. Unity Software accounts for approximately 7.5% of Resolute Advisors LLC’s portfolio, making the stock its 5th largest holding. Resolute Advisors LLC’s holdings in Unity Software were worth $18,240,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Unity Software by 52.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after buying an additional 1,465,962 shares in the last quarter. Parallel Advisors LLC grew its stake in Unity Software by 21.5% in the 1st quarter. Parallel Advisors LLC now owns 60,183 shares of the company’s stock valued at $1,320,000 after buying an additional 10,662 shares in the last quarter. KBC Group NV raised its holdings in Unity Software by 1.0% during the 1st quarter. KBC Group NV now owns 52,505 shares of the company’s stock valued at $1,152,000 after acquiring an additional 545 shares during the period. Swiss National Bank lifted its position in shares of Unity Software by 0.4% during the first quarter. Swiss National Bank now owns 627,400 shares of the company’s stock worth $13,765,000 after acquiring an additional 2,600 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Unity Software by 1.2% in the first quarter. California Public Employees Retirement System now owns 558,113 shares of the company’s stock valued at $12,245,000 after purchasing an additional 6,474 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 13,247 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 value of $360,053.46. Following the completion of the transaction, the chief accounting officer directly owned 370,654 shares in the company, valued at approximately $10,074,375.72. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Tuesday, May 26th. The stock was 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 of the company’s stock, valued at $19,843,275.42. This trade represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 198,321 shares of company stock worth $5,390,783. Company insiders own 0.77% of the company’s stock.

Unity Software Trading Up 3.0%

Shares of U opened at $29.85 on Tuesday. The firm’s 50 day simple moving average is $28.44 and its 200 day simple moving average is $27.68. The company has a market capitalization of $13.03 billion, a P/E ratio of -19.01, a P/E/G ratio of 3.51 and a beta of 2.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15.

Analyst Ratings Changes

A number of brokerages recently issued reports on U. Barclays increased their price objective on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Piper Sandler started coverage on shares of Unity Software in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 price objective for the company. Bank of America boosted their price objective on shares of Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Finally, Raymond James Financial assumed coverage on shares of Unity Software in a report on Monday, June 29th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.77.

Unity Software Company Profile

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.