KLP Kapitalforvaltning AS Takes $1.26 Million Position in Unity Software Inc. (NYSE:U)

KLP Kapitalforvaltning AS acquired a new position in shares of Unity Software Inc. (NYSE:U - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 56,200 shares of the company's stock, valued at approximately $1,263,000.

Several other hedge funds also recently modified their holdings of U. AXQ Capital LP acquired a new position in Unity Software during the 4th quarter worth approximately $681,000. Sei Investments Co. lifted its holdings in shares of Unity Software by 44.1% in the 4th quarter. Sei Investments Co. now owns 17,922 shares of the company's stock worth $403,000 after purchasing an additional 5,486 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Unity Software in the 4th quarter worth $318,000. Stokes Family Office LLC acquired a new stake in Unity Software in the 4th quarter valued at $225,000. Finally, Xponance Inc. increased its stake in Unity Software by 12.0% during the 4th quarter. Xponance Inc. now owns 26,246 shares of the company's stock valued at $590,000 after purchasing an additional 2,812 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

Insider Buying and Selling at Unity Software

In related news, CAO Mark Barrysmith sold 1,362 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction 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. This represents a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the completion of the transaction, the director now directly owns 2,981,479 shares of the company's stock, valued at approximately $59,748,839.16. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 781,903 shares of company stock valued at $17,934,432 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

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Unity Software Stock Performance

Shares of U traded down $2.73 during mid-day trading on Thursday, hitting $18.18. The stock had a trading volume of 12,613,681 shares, compared to its average volume of 10,714,785. The business has a fifty day moving average price of $22.36 and a 200-day moving average price of $22.28. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The firm has a market cap of $7.45 billion, a P/E ratio of -10.82 and a beta of 2.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results 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 firm had revenue of $457.10 million during the quarter, compared to the consensus estimate 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, equities research analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on U shares. Jefferies Financial Group reduced their price objective on shares of Unity Software from $28.00 to $24.00 and set a "hold" rating for the company in a report on Monday. Benchmark upgraded Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Needham & Company LLC raised their target price on Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a report on Friday, February 21st. Hsbc Global Res raised Unity Software to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Wells Fargo & Company lowered their price target on 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. Ten investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.32.

Unity Software Company 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.