Everence Capital Management Inc. Invests $265,000 in Unity Software Inc. (NYSE:U)

Everence Capital Management Inc. bought a new position in shares of Unity Software Inc. (NYSE:U) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,790 shares of the company’s stock, valued at approximately $265,000.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after buying an additional 944,709 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Unity Software in the 2nd quarter worth approximately $2,535,000. CIBC Asset Management Inc increased its position in Unity Software by 2,665.4% during the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after acquiring an additional 330,088 shares during the last quarter. LMR Partners LLP bought a new position in Unity Software during the 3rd quarter valued at about $611,000. Finally, Edgestream Partners L.P. grew its stake in shares of Unity Software by 637.9% during the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after buying an additional 88,955 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on U shares. Barclays upped their price target on shares of Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Macquarie upped their price objective on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. UBS Group lifted their price objective on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Needham & Company LLC increased their target price on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Benchmark lifted their price target on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Unity Software currently has an average rating of “Hold” and an average price target of $22.27.

Unity Software Trading Down 7.5 %

Shares of NYSE:U opened at $23.08 on Wednesday. The business has a 50-day moving average price of $22.88 and a 200-day moving average price of $19.77. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of -11.31 and a beta of 2.32. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $39.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In other news, CFO Mark Barrysmith sold 8,112 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.38, for a total transaction of $197,770.56. Following the sale, the chief financial officer now directly owns 454,866 shares in the company, valued at $11,089,633.08. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $17.52, for a total value of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at $74,427,517.92. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 762,669 shares of company stock worth $17,480,869. 6.30% of the stock is owned by company insiders.

Unity Software Company 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.