Geode Capital Management LLC Boosts Stock Position in Unity Software Inc. (NYSE:U)

Geode Capital Management LLC grew its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,769,609 shares of the company's stock after acquiring an additional 84,480 shares during the period. Geode Capital Management LLC owned about 1.18% of Unity Software worth $107,208,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ariose Capital Management Ltd bought a new position in Unity Software in the 4th quarter worth $2,299,000. Jessup Wealth Management Inc purchased a new position in shares of Unity Software during the fourth quarter valued at about $510,000. Charles Schwab Investment Management Inc. raised its stake in Unity Software by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company's stock worth $44,005,000 after buying an additional 72,384 shares in the last quarter. Vanguard Group Inc. raised its stake in Unity Software by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after buying an additional 625,872 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Unity Software by 10.0% in the fourth quarter. CIBC Asset Management Inc now owns 376,794 shares of the company's stock worth $8,467,000 after buying an additional 34,322 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

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Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on U. Citigroup raised Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 target price for the company in a research report on Tuesday, March 11th. Wedbush reiterated an "outperform" rating and issued a $27.00 price objective on shares of Unity Software in a report on Thursday, February 13th. UBS Group dropped their target price on shares of Unity Software from $30.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday. Hsbc Global Res upgraded shares of Unity Software to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their price target on shares of Unity Software from $26.00 to $32.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Ten 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 company. According to MarketBeat, Unity Software has an average rating of "Moderate Buy" and a consensus target price of $24.46.

Unity Software Stock Up 0.9 %

Shares of Unity Software stock traded up $0.17 on Friday, reaching $19.25. The company's stock had a trading volume of 5,933,506 shares, compared to its average volume of 10,873,252. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The firm's fifty day simple moving average is $21.71 and its two-hundred day simple moving average is $22.13. 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 company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -11.46 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping 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 company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Equities analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

About Unity Software

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.