Bridgewater Associates LP Purchases 305,286 Shares of Unity Software Inc. (NYSE:U)

Bridgewater Associates LP grew its stake in Unity Software Inc. (NYSE:U - Free Report) by 167.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 487,696 shares of the company's stock after purchasing an additional 305,286 shares during the quarter. Bridgewater Associates LP owned about 0.12% of Unity Software worth $10,959,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in U. GAMMA Investing LLC raised its stake in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after buying an additional 411 shares during the period. Principal Securities Inc. raised its holdings in shares of 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. Farther Finance Advisors LLC increased its holdings in Unity Software by 3.5% during the 4th quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company's stock worth $324,000 after purchasing an additional 488 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Unity Software by 4.9% during the third quarter. Tidal Investments LLC now owns 15,410 shares of the company's stock worth $349,000 after buying an additional 723 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Unity Software by 144.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,902 shares of the company's stock valued at $43,000 after purchasing an additional 1,125 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Stock Performance

Shares of U traded up $0.96 during mid-day trading on Tuesday, hitting $20.21. 2,282,239 shares of the company's stock were exchanged, compared to its average volume of 10,870,254. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The stock's 50-day simple moving average is $21.53 and its 200-day simple moving average is $22.01. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of -12.03 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, equities research analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In related news, Director Tomer Bar-Zeev sold 166,667 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the sale, the director now owns 2,981,479 shares in the company, valued at $59,748,839.16. The trade was a 5.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total value of $30,243.60. Following the sale, the chief accounting officer now directly owns 450,881 shares in the company, valued at $9,775,100.08. The trade was a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 782,231 shares of company stock worth $17,933,528 over the last three months. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on U. UBS Group decreased their price objective on Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley cut their price objective on Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citizens Jmp upgraded shares of Unity Software from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their target price on shares of Unity Software from $24.00 to $16.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Finally, Barclays lifted their price target on Unity Software from $18.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.96.

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.