Van ECK Associates Corp Lowers Position in Unity Software Inc. (NYSE:U)

Van ECK Associates Corp cut its stake in Unity Software Inc. (NYSE:U - Free Report) by 20.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,547,422 shares of the company's stock after selling 397,151 shares during the period. Van ECK Associates Corp owned approximately 0.38% of Unity Software worth $34,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Unity Software by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company's stock worth $106,008,000 after buying an additional 413,474 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Unity Software by 100.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company's stock worth $42,662,000 after buying an additional 944,709 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Unity Software by 7.1% during the 3rd quarter. Primecap Management Co. CA now owns 811,994 shares of the company's stock worth $18,367,000 after buying an additional 53,541 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Unity Software during the 3rd quarter worth $12,317,000. Finally, Monolith Management Ltd acquired a new position in shares of Unity Software during the 3rd quarter worth $10,993,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Unity Software

In related news, SVP Felix The sold 11,719 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.39, for a total transaction of $285,826.41. Following the transaction, the senior vice president now directly owns 411,960 shares of the company's stock, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Barrysmith sold 8,112 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.38, for a total value of $197,770.56. Following the transaction, the chief financial officer now directly owns 454,866 shares in the company, valued at approximately $11,089,633.08. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 677,404 shares of company stock worth $16,572,058 in the last 90 days. Corporate insiders own 6.30% of the company's stock.

Unity Software Trading Down 0.7 %

Shares of Unity Software stock traded down $0.15 on Tuesday, hitting $21.36. 5,164,211 shares of the company's stock traded hands, compared to its average volume of 8,852,973. Unity Software Inc. has a one year low of $13.90 and a one year high of $33.43. 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 fifty day moving average of $22.61 and a two-hundred day moving average of $20.89. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of -10.47 and a beta of 2.32.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on U shares. Wedbush restated an "outperform" rating and set a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. Barclays boosted their price objective on Unity Software from $16.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Benchmark boosted their price objective on Unity Software from $10.00 to $15.00 and gave the stock a "sell" rating in a research report on Friday, November 8th. Wells Fargo & Company started coverage on Unity Software in a research report on Monday, October 28th. They set an "equal weight" rating and a $20.00 price objective on the stock. Finally, UBS Group boosted their price objective on Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $22.81.

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.