Alta Park Capital LP Trims Stake in Unity Software Inc. $U

Alta Park Capital LP reduced its position in Unity Software Inc. (NYSE:U) by 25.3% in the 4th quarter, Holdings Channel reports. The firm owned 312,807 shares of the company’s stock after selling 105,843 shares during the period. Unity Software makes up 1.7% of Alta Park Capital LP’s holdings, making the stock its 28th biggest holding. Alta Park Capital LP’s holdings in Unity Software were worth $13,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Unity Software by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Unity Software in the 1st quarter valued at about $260,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Unity Software by 28.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock valued at $134,000 after purchasing an additional 1,241 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Unity Software by 11.3% in the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after purchasing an additional 53,015 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Unity Software by 1,135.6% in the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock valued at $5,438,000 after purchasing an additional 206,529 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Unity Software

In other news, CFO Jarrod Yahes sold 24,021 shares of the firm’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 $652,890.78. Following the sale, the chief financial officer owned 704,360 shares in the company, valued at $19,144,504.80. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total value of $57,449.63. Following the sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. This trade represents 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. Over the last ninety days, insiders have sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by insiders.

Unity Software Price Performance

Shares of NYSE:U opened at $26.48 on Thursday. The business’s fifty day moving average price is $26.64 and its two-hundred day moving average price is $30.36. The stock has a market cap of $11.56 billion, a PE ratio of -16.87, a price-to-earnings-growth ratio of 3.59 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. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15.

Analysts Set New Price Targets

U has been the subject of several research reports. Citizens Jmp reissued a “market outperform” rating and issued a $37.00 target price on shares of Unity Software in a report on Friday, March 27th. BTIG Research upped their price objective on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Bank of America increased their target price on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. Morgan Stanley increased 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. Finally, Wall Street Zen cut Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and a consensus price target of $37.71.

Unity Software 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.