DnB Asset Management AS Acquires New Position in Unity Software Inc. (NYSE:U)

DnB Asset Management AS purchased a new stake in Unity Software Inc. (NYSE:U - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,651 shares of the company's stock, valued at approximately $464,000.

Other large investors also recently made changes to their positions in the company. Ariose Capital Management Ltd purchased a new stake in Unity Software in the 4th quarter worth about $2,299,000. Y Intercept Hong Kong Ltd purchased a new position in Unity Software during the third quarter valued at approximately $4,390,000. Jessup Wealth Management Inc purchased a new position in Unity Software during the fourth quarter valued at approximately $510,000. Weiss Asset Management LP acquired a new stake in shares of Unity Software during the 3rd quarter valued at $10,335,000. Finally, Worldquant Millennium Advisors LLC boosted its position in Unity Software by 234.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 397,118 shares of the company's stock valued at $8,983,000 after purchasing an additional 278,210 shares during the last quarter. Institutional investors own 73.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on U. Hsbc Global Res raised Unity Software to a "strong-buy" rating in a research note on Friday, February 21st. JMP Securities reiterated a "market perform" rating on shares of Unity Software in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Unity Software from $27.00 to $22.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Macquarie assumed coverage on shares of Unity Software in a report on Monday, March 10th. They set a "neutral" rating and a $24.00 price target on the stock. Finally, Barclays increased their price objective on Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.32.

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Insider Buying and Selling at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total value of $3,498,340.33. Following the transaction, the director now directly owns 3,481,479 shares in the company, valued at approximately $73,076,244.21. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark Barrysmith sold 1,362 shares of the business's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $21.91, for a total value of $29,841.42. Following the sale, the chief accounting officer now owns 452,276 shares of the company's stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 781,903 shares of company stock worth $17,934,432. 6.30% of the stock is currently owned by insiders.

Unity Software Price Performance

Shares of Unity Software stock traded down $1.25 during mid-day trading on Friday, reaching $16.95. 13,013,421 shares of the stock were exchanged, compared to its average volume of 10,742,079. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. The company has a market cap of $6.94 billion, a price-to-earnings ratio of -10.09 and a beta of 2.31. The firm has a 50-day simple moving average of $22.25 and a 200 day simple moving average of $22.26. 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 (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

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.