Unity Software Inc. $U Shares Bought by CenterBook Partners LP

CenterBook Partners LP grew its stake in shares of Unity Software Inc. (NYSE:U) by 558.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 147,708 shares of the company’s stock after buying an additional 125,282 shares during the quarter. CenterBook Partners LP’s holdings in Unity Software were worth $6,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. lifted its position in shares of Unity Software by 12.9% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after acquiring an additional 308 shares during the last quarter. Xponance Inc. increased its position in shares of Unity Software by 1.8% in the third quarter. Xponance Inc. now owns 18,291 shares of the company’s stock worth $732,000 after acquiring an additional 328 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Unity Software by 3.1% in the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock worth $656,000 after acquiring an additional 449 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Unity Software by 2.1% in the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after acquiring an additional 462 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Price Performance

U opened at $29.15 on Monday. The stock has a fifty day moving average of $25.59 and a 200-day moving average of $31.07. The firm has a market capitalization of $12.72 billion, a P/E ratio of -18.56, a PEG ratio of 3.73 and a beta of 2.06. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling

In other news, CEO Matthew S. Bromberg sold 138,993 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the sale, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. This represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the sale, the chief financial officer owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This represents a 3.30% decrease in their ownership of the stock. 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 three months, insiders have sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on U shares. 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 target price on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $37.00 target price on shares of Unity Software in a research report on Friday, March 27th. Wedbush lifted their target price on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citigroup reduced their target price on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, UBS Group increased their target price on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Moderate Buy” and an average target price 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.