Norges Bank Acquires Shares of 11,985,740 Unity Software Inc. (NYSE:U)

Norges Bank purchased a new stake in Unity Software Inc. (NYSE:U - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,985,740 shares of the company's stock, valued at approximately $269,320,000. Norges Bank owned 2.98% of Unity Software as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. R Squared Ltd purchased a new position in Unity Software during the 4th quarter valued at about $30,000. Principal Securities Inc. grew its stake in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after acquiring an additional 477 shares in the last quarter. GAMMA Investing LLC increased its holdings in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after acquiring an additional 411 shares during the period. Whipplewood Advisors LLC purchased a new stake in Unity Software in the 4th quarter worth approximately $40,000. Finally, Brooklyn Investment Group purchased a new stake in Unity Software in the 3rd quarter worth approximately $43,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Unity Software from $26.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, February 21st. UBS Group upped their target price on Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Hsbc Global Res upgraded Unity Software to a "strong-buy" rating in a research report on Friday, February 21st. Macquarie started coverage on shares of Unity Software in a research report on Monday, March 10th. They issued a "neutral" rating and a $24.00 price objective on the stock. Finally, Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.32.

Unity Software Trading Down 13.3 %

Shares of U traded down $2.78 during trading hours on Thursday, hitting $18.13. The company had a trading volume of 3,807,166 shares, compared to its average volume of 10,661,313. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock's 50 day moving average price is $22.46 and its 200 day moving average price is $22.31. The firm has a market cap of $7.43 billion, a P/E ratio of -10.79 and a beta of 2.27.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million for the quarter, compared to analysts' expectations of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, research analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In related news, Director David Helgason sold 38,924 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total value of $1,047,834.08. Following the completion of the sale, the director now owns 7,828,494 shares of the company's stock, valued at $210,743,058.48. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 781,903 shares of company stock worth $17,934,432 in the last three months. 6.30% of the stock is owned by insiders.

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.