Van ECK Associates Corp Buys 193,024 Shares of Unity Software Inc. (NYSE:U)

Van ECK Associates Corp grew its stake in Unity Software Inc. (NYSE:U) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,158,279 shares of the company’s stock after purchasing an additional 193,024 shares during the quarter. Van ECK Associates Corp owned approximately 0.30% of Unity Software worth $47,362,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BluePath Capital Management LLC raised its stake in shares of Unity Software by 6.7% in the fourth quarter. BluePath Capital Management LLC now owns 5,453 shares of the company’s stock valued at $223,000 after buying an additional 342 shares during the period. Kovack Advisors Inc. raised its stake in shares of Unity Software by 1.5% in the fourth quarter. Kovack Advisors Inc. now owns 26,411 shares of the company’s stock valued at $1,080,000 after buying an additional 380 shares during the period. Natixis Advisors L.P. raised its stake in shares of Unity Software by 3.2% in the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after buying an additional 407 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Unity Software by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 17,602 shares of the company’s stock valued at $553,000 after buying an additional 433 shares during the period. Finally, Bouvel Investment Partners LLC grew its position in shares of Unity Software by 2.1% in the fourth quarter. Bouvel Investment Partners LLC now owns 22,186 shares of the company’s stock valued at $907,000 after purchasing an additional 446 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the sale, the director now owns 4,498,146 shares in the company, valued at approximately $119,605,702.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO James M. Whitehurst sold 44,091 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.56, for a total value of $1,435,602.96. Following the completion of the transaction, the chief executive officer now owns 155,909 shares of the company’s stock, valued at approximately $5,076,397.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total value of $6,647,500.00. Following the completion of the transaction, the director now directly owns 4,498,146 shares of the company’s stock, valued at approximately $119,605,702.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,967 shares of company stock worth $9,552,515. 9.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on U. Stifel Nicolaus lifted their price target on Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Needham & Company LLC reduced their price target on Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. William Blair reiterated an “outperform” rating on shares of Unity Software in a research report on Tuesday, January 9th. Finally, Wedbush reduced their target price on Unity Software from $50.00 to $33.50 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.03.

Unity Software Trading Down 2.0 %

U stock traded down $0.51 during trading on Tuesday, hitting $24.48. 1,878,967 shares of the company traded hands, compared to its average volume of 9,691,230. The firm has a market capitalization of $9.57 billion, a PE ratio of -11.56 and a beta of 2.42. Unity Software Inc. has a 1 year low of $22.20 and a 1 year high of $50.08. The company has a 50-day moving average of $26.63 and a 200-day moving average of $30.39. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

Unity Software (NYSE:U) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business had revenue of $609.27 million during the quarter, compared to analysts’ expectations of $551.01 million. During the same quarter last year, the business posted ($0.50) EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Analysts predict that Unity Software Inc. will post -0.63 earnings per share for the current fiscal year.

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.