CIBC Asset Management Inc Acquires 330,088 Shares of Unity Software Inc. (NYSE:U)

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

A number of other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Unity Software by 4.0% in the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company's stock valued at $315,000 after acquiring an additional 538 shares during the period. Advisors Asset Management Inc. grew its position in shares of Unity Software by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company's stock valued at $62,000 after purchasing an additional 562 shares during the period. Venturi Wealth Management LLC increased its stake in Unity Software by 28.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company's stock worth $89,000 after purchasing an additional 876 shares in the last quarter. GAMMA Investing LLC raised its holdings in Unity Software by 343.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company's stock worth $28,000 after buying an additional 949 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Unity Software by 8.2% in the second quarter. Intech Investment Management LLC now owns 13,270 shares of the company's stock valued at $216,000 after buying an additional 1,010 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director David Helgason sold 250,000 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares of the company's stock, valued at $168,876,112.09. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Felix The sold 30,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $7,579,617.31. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 530,800 shares of company stock valued at $10,080,664 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Unity Software Stock Performance

Shares of U traded up $0.65 during mid-day trading on Monday, reaching $17.99. The company's stock had a trading volume of 10,141,535 shares, compared to its average volume of 10,448,159. The company has a current ratio of 2.41, a quick ratio of 2.41 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. The business has a 50-day simple moving average of $20.67 and a two-hundred day simple moving average of $18.72. The stock has a market cap of $7.25 billion, a P/E ratio of -8.82 and a beta of 2.29.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on U. Stifel Nicolaus boosted their price target on Unity Software from $20.00 to $25.00 and gave the company a "buy" rating in a report on Friday, September 13th. Wedbush upped their price target on Unity Software from $21.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, September 16th. Barclays lifted their price objective on shares of Unity Software from $16.00 to $18.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Needham & Company LLC boosted their price objective on shares of Unity Software from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Unity Software in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Unity Software presently has an average 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.