ARK Investment Management LLC Cuts Stock Holdings in Unity Software Inc. (NYSE:U)

ARK Investment Management LLC trimmed its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129,906 shares of the company's stock after selling 5,535,965 shares during the quarter. ARK Investment Management LLC owned approximately 0.28% of Unity Software worth $25,389,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Unity Software during the 4th quarter valued at approximately $30,000. Principal Securities Inc. raised its position in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after acquiring an additional 477 shares during the period. Planning Capital Management Corp acquired a new position in Unity Software during the third quarter worth $34,000. GAMMA Investing LLC raised its position in Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after acquiring an additional 411 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Unity Software during the third quarter worth $43,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on U shares. Jefferies Financial Group upped their price objective on shares of Unity Software from $23.00 to $28.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Needham & Company LLC upped their price objective on shares of Unity Software from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Wells Fargo & Company upped their price objective on shares of Unity Software from $20.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. Wedbush restated an "outperform" rating and set a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. Finally, Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Unity Software has an average rating of "Hold" and an average target price of $25.96.

Insider Activity at Unity Software

In other Unity Software news, CFO Mark Barrysmith sold 1,228 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the transaction, the chief financial officer now owns 453,638 shares of the company's stock, valued at $11,086,912.72. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 210,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total transaction of $5,508,300.00. Following the sale, the director now directly owns 967,650 shares in the company, valued at $25,381,459.50. This represents a 17.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 742,766 shares of company stock valued at $18,248,777. 6.30% of the stock is owned by company insiders.

Unity Software Trading Down 5.9 %

Shares of U opened at $25.67 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $33.43. The firm has a 50-day moving average price of $22.60 and a 200 day moving average price of $21.34. The firm has a market capitalization of $10.34 billion, a P/E ratio of -15.28 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The firm had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Sell-side analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

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.

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