Norges Bank Makes New Investment in Unity Software Inc. (NYSE:U)

Norges Bank bought a new stake in Unity Software Inc. (NYSE:U - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,985,740 shares of the company's stock, valued at approximately $269,320,000. Norges Bank owned approximately 2.98% of Unity Software as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in Unity Software in the fourth quarter worth about $30,000. Principal Securities Inc. grew its position in Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after buying an additional 477 shares in the last quarter. GAMMA Investing LLC raised its holdings in Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after purchasing an additional 411 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Unity Software in the fourth quarter valued at $40,000. Finally, Brooklyn Investment Group bought a new position in Unity Software during the third quarter valued at about $43,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Price Performance

NYSE:U traded up $0.59 during trading hours on Tuesday, hitting $20.18. The company's stock had a trading volume of 6,610,588 shares, compared to its average volume of 10,672,797. The stock has a fifty day simple moving average of $22.54 and a 200-day simple moving average of $22.32. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. 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 company has a market capitalization of $8.27 billion, a P/E ratio of -12.01 and a beta of 2.27.

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

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 1,445 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $20.61, for a total value of $29,781.45. Following the sale, the chief accounting officer now owns 483,417 shares in the company, valued at approximately $9,963,224.37. This trade represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 approximately $91,276,612.92. The trade was a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 865,236 shares of company stock worth $20,849,425 in the last 90 days. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on U shares. Wells Fargo & Company reduced their price objective 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. Needham & Company LLC upped their price target on Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a report on Friday, February 21st. Jefferies Financial Group decreased their target price on Unity Software from $28.00 to $24.00 and set a "hold" rating on the stock in a report on Monday. Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, UBS Group upped their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.