ARK Investment Management LLC Reduces Stake in Unity Software Inc. (NYSE:U)

ARK Investment Management LLC reduced its stake in Unity Software Inc. (NYSE:U - Free Report) by 41.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,665,871 shares of the company's stock after selling 4,639,335 shares during the quarter. Unity Software comprises 1.4% of ARK Investment Management LLC's holdings, making the stock its 22nd largest holding. ARK Investment Management LLC owned about 1.68% of Unity Software worth $150,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Emerald Advisers LLC lifted its stake in Unity Software by 108.1% in the third quarter. Emerald Advisers LLC now owns 20,554 shares of the company's stock valued at $465,000 after buying an additional 10,679 shares during the period. Farther Finance Advisors LLC lifted its stake in Unity Software by 4.0% in the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company's stock valued at $315,000 after buying an additional 538 shares during the period. US Bancorp DE lifted its stake in Unity Software by 159.7% in the third quarter. US Bancorp DE now owns 13,257 shares of the company's stock valued at $300,000 after buying an additional 8,152 shares during the period. First Trust Direct Indexing L.P. acquired a new position in Unity Software in the third quarter valued at approximately $242,000. Finally, Nisa Investment Advisors LLC lifted its stake in Unity Software by 996.7% in the third quarter. Nisa Investment Advisors LLC now owns 16,450 shares of the company's stock valued at $372,000 after buying an additional 14,950 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Helgason sold 250,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Felix The sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Helgason sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,600 shares of company stock worth $5,714,000. 6.30% of the stock is currently owned by insiders.

Unity Software Price Performance

NYSE U traded down $1.72 during trading on Friday, reaching $20.49. The company's stock had a trading volume of 24,545,422 shares, compared to its average volume of 10,404,142. The stock has a market capitalization of $8.13 billion, a PE ratio of -10.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a fifty day moving average of $20.33 and a 200 day moving average of $18.99. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.44) by $0.12. The business had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company's quarterly revenue was down 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) EPS. Analysts expect that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JMP Securities restated a "market perform" rating on shares of Unity Software in a report on Friday, September 13th. The Goldman Sachs Group decreased their price objective on Unity Software from $26.00 to $22.50 and set a "neutral" rating for the company in a report on Friday, August 9th. Oppenheimer reiterated a "market perform" rating on shares of Unity Software in a report on Friday, October 18th. Wells Fargo & Company began coverage on Unity Software in a report on Monday, October 28th. They set an "equal weight" rating and a $20.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on Unity Software from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $23.35.

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.