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

Principal Financial Group Inc. reduced its holdings in Unity Software Inc. (NYSE:U) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,706 shares of the company’s stock after selling 2,270 shares during the quarter. Principal Financial Group Inc.’s holdings in Unity Software were worth $491,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock worth $28,000 after acquiring an additional 949 shares during the last quarter. Planning Capital Management Corp bought a new stake in Unity Software during the 3rd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Unity Software by 163.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after purchasing an additional 1,389 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Unity Software in the third quarter valued at approximately $43,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Unity Software during the second quarter valued at approximately $82,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Unity Software

In related news, Director David Helgason sold 7,860 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total value of $207,897.00. Following the transaction, the director now directly owns 10,493 shares in the company, valued at approximately $277,539.85. This represents a 42.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares in the company, 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. Over the last ninety days, insiders have sold 762,669 shares of company stock valued at $17,480,869. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Needham & Company LLC raised their price target 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. Wedbush upped their price objective on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Wells Fargo & Company initiated coverage on shares of Unity Software in a research report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price on the stock. Finally, Macquarie boosted their target price on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.21.

Unity Software Stock Performance

NYSE:U opened at $24.09 on Monday. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $39.29. The business’s fifty day moving average is $22.74 and its 200 day moving average is $19.66. 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 firm has a market cap of $9.70 billion, a price-to-earnings ratio of -11.81 and a beta of 2.32.

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.