Bridgewater Associates LP Trims Position in Unity Software Inc. (NYSE:U)

Bridgewater Associates LP trimmed its holdings in Unity Software Inc. (NYSE:U - Free Report) by 63.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 182,410 shares of the company's stock after selling 321,553 shares during the period. Bridgewater Associates LP's holdings in Unity Software were worth $4,126,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in U. Charles Schwab Investment Management Inc. boosted its position in shares of Unity Software by 100.4% during 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 during the period. Van ECK Associates Corp boosted its position in shares of Unity Software by 35.0% during the second quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company's stock worth $31,805,000 after buying an additional 507,274 shares during the period. Monolith Management Ltd purchased a new position in shares of Unity Software during the third quarter worth $10,993,000. Bank of New York Mellon Corp boosted its position in shares of Unity Software by 40.6% during the second quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company's stock worth $23,929,000 after buying an additional 424,806 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Unity Software by 161.3% during the second quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company's stock worth $9,417,000 after buying an additional 357,500 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Felix The sold 11,719 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.39, for a total value of $285,826.41. Following the sale, the senior vice president now owns 411,960 shares of the company's stock, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Helgason sold 250,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 554,381 shares of company stock worth $10,631,723. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Unity Software from $15.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, October 18th. JMP Securities restated a "market perform" rating on shares of Unity Software in a research note on Friday, September 13th. The Goldman Sachs Group decreased their price target on Unity Software from $26.00 to $22.50 and set a "neutral" rating for the company in a report on Friday, August 9th. Barclays lifted their price target on Unity Software from $16.00 to $18.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. Finally, Needham & Company LLC lifted their price target on Unity Software from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Unity Software presently has an average rating of "Hold" and an average target price of $23.35.

Unity Software Stock Performance

NYSE U traded up $0.64 on Friday, hitting $24.11. 7,475,559 shares of the company's stock were exchanged, compared to its average volume of 10,583,529. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm's 50-day moving average price is $21.31 and its two-hundred day moving average price is $18.65. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $43.54. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of -11.82 and a beta of 2.29.

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.