Principal Financial Group Inc. Sells 2,270 Shares of Unity Software Inc. (NYSE:U)

Principal Financial Group Inc. reduced its position in shares of Unity Software Inc. (NYSE:U) by 9.5% in the third quarter, HoldingsChannel.com reports. The firm owned 21,706 shares of the company’s stock after selling 2,270 shares during the period. Principal Financial Group Inc.’s holdings in Unity Software were worth $491,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 949 shares in the last quarter. Planning Capital Management Corp purchased a new stake in shares of Unity Software in the 3rd quarter worth about $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Unity Software during the third quarter valued at about $43,000. Finally, Acadian Asset Management LLC bought a new position in Unity Software in the second quarter worth about $82,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Stock Down 1.7 %

U stock opened at $24.09 on Monday. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $39.29. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -11.81 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50-day moving average is $22.74 and its two-hundred day moving average is $19.66.

Wall Street Analysts Forecast Growth

U has been the topic of a number of research analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Stifel Nicolaus boosted their target price on shares of Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, September 13th. Barclays increased their price target on shares of Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, Macquarie boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.21.

Insider Activity at Unity Software

In related news, CFO Mark Barrysmith sold 8,112 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.38, for a total value of $197,770.56. Following the transaction, the chief financial officer now directly owns 454,866 shares of the company’s stock, valued at approximately $11,089,633.08. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Felix The sold 20,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $27.43, for a total transaction of $548,600.00. Following the sale, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at approximately $10,751,462.80. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 762,669 shares of company stock worth $17,480,869. Corporate insiders own 6.30% of the company’s stock.

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.