Arvin Capital Management LP Has $4.80 Million Position in Unity Software Inc. $U

Arvin Capital Management LP lowered its stake in shares of Unity Software Inc. (NYSE:U) by 53.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 108,588 shares of the company’s stock after selling 126,070 shares during the period. Unity Software accounts for about 0.9% of Arvin Capital Management LP’s holdings, making the stock its 25th biggest position. Arvin Capital Management LP’s holdings in Unity Software were worth $4,796,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC acquired a new stake in shares of Unity Software during the 4th quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at $30,000. Larson Financial Group LLC lifted its stake in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at $36,000. Finally, IFP Advisors Inc acquired a new stake in shares of Unity Software in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on U. Wells Fargo & Company lifted their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Barclays lifted their price objective on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Bank of America lifted 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. Piper Sandler began coverage on shares of Unity Software in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.71.

Unity Software Stock Up 2.2%

Unity Software stock opened at $27.30 on Friday. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of -17.39, a P/E/G ratio of 3.48 and a beta of 2.06. 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 fifty-two week low of $16.78 and a fifty-two week high of $52.15. The firm has a fifty day moving average price of $26.33 and a two-hundred day moving average price of $30.75.

Insider Activity

In other Unity Software news, SVP Rebecca Berenice Boyden sold 952 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the completion of the transaction, the senior vice president owned 309,445 shares of the company’s stock, valued at $8,416,904. The trade was a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 business’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 transaction, the chief financial officer directly owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This represents a 3.30% 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 90 days, insiders have sold 198,321 shares of company stock worth $5,390,783. Insiders own 0.77% of the company’s stock.

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.