Hidden Cove Wealth Management LLC Makes New Investment in Unity Software Inc. (NYSE:U)

Hidden Cove Wealth Management LLC bought a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 141,101 shares of the company's stock, valued at approximately $3,171,000. Unity Software accounts for approximately 2.6% of Hidden Cove Wealth Management LLC's portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also recently bought and sold shares of U. GAMMA Investing LLC boosted its position 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 valued at $28,000 after purchasing an additional 949 shares during the period. CWM LLC boosted its position in shares of Unity Software by 19.6% in the 3rd quarter. CWM LLC now owns 11,243 shares of the company's stock valued at $254,000 after purchasing an additional 1,845 shares during the period. Creative Planning boosted its position in shares of Unity Software by 13.7% in the 3rd quarter. Creative Planning now owns 153,742 shares of the company's stock valued at $3,478,000 after purchasing an additional 18,547 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Unity Software by 8.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 30,582 shares of the company's stock valued at $692,000 after purchasing an additional 2,487 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Unity Software by 61.0% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,568 shares of the company's stock valued at $533,000 after purchasing an additional 8,932 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

U has been the subject of a number of recent analyst reports. Barclays increased their price target on Unity Software from $16.00 to $18.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. JMP Securities restated a "market perform" rating on shares of Unity Software in a research report on Monday, February 3rd. UBS Group raised their price objective on Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised their price objective on Unity Software from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Benchmark raised their price objective on Unity Software from $10.00 to $15.00 and gave the stock a "sell" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.81.

Unity Software Stock Up 4.0 %

Shares of U stock traded up $0.83 during trading on Friday, reaching $21.57. The company had a trading volume of 9,436,891 shares, compared to its average volume of 6,872,919. The firm's 50 day simple moving average is $22.73 and its two-hundred day simple moving average is $20.81. 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 one year low of $13.90 and a one year high of $35.56.

Insider Activity at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares in the company, valued at approximately $9,909,367.16. This represents a 0.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the sale, the director now owns 3,648,146 shares of the company's stock, valued at $91,276,612.92. This trade represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 681,154 shares of company stock valued at $16,639,520. Corporate insiders own 6.30% of the company's stock.

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.