CIBC Asset Management Inc Has $7.75 Million Position in Unity Software Inc. (NYSE:U)

CIBC Asset Management Inc increased its holdings in shares of Unity Software Inc. (NYSE:U) by 2,665.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 342,472 shares of the company’s stock after acquiring an additional 330,088 shares during the period. CIBC Asset Management Inc’s holdings in Unity Software were worth $7,747,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 949 shares in the last quarter. Planning Capital Management Corp acquired a new position in Unity Software in the third quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. boosted its position in Unity Software by 163.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after buying an additional 1,389 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Unity Software by 308.8% in the second quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after acquiring an additional 2,359 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Unity Software by 31.6% in the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after acquiring an additional 562 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

U has been the subject of a number of research analyst reports. Macquarie boosted their target price on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. Stifel Nicolaus boosted their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Benchmark boosted their price target on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $17.00 price target (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Two equities 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.35.

Insider Buying and Selling at Unity Software

In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Felix The sold 30,000 shares of the company’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 completion of the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,800 shares of company stock valued at $5,700,664. Corporate insiders own 6.30% of the company’s stock.

Unity Software Stock Down 8.0 %

Shares of NYSE:U opened at $17.34 on Monday. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.41. The company has a market capitalization of $6.99 billion, a PE ratio of -8.50 and a beta of 2.29. The company has a 50 day moving average price of $20.67 and a two-hundred day moving average price of $18.72.

About Unity Software

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.