DnB Asset Management AS Purchases Shares of 20,651 Unity Software Inc. (NYSE:U)

DnB Asset Management AS acquired a new position in Unity Software Inc. (NYSE:U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,651 shares of the company’s stock, valued at approximately $464,000.

A number of other hedge funds have also made changes to their positions in U. Ariose Capital Management Ltd acquired a new position in Unity Software during the 4th quarter worth approximately $2,299,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Unity Software during the third quarter worth $4,390,000. Jessup Wealth Management Inc purchased a new position in shares of Unity Software in the fourth quarter valued at $510,000. Weiss Asset Management LP purchased a new stake in Unity Software during the 3rd quarter worth $10,335,000. Finally, Worldquant Millennium Advisors LLC lifted its holdings in Unity Software by 234.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 397,118 shares of the company’s stock worth $8,983,000 after buying an additional 278,210 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insiders Place Their Bets

In other Unity Software news, Director David Helgason sold 38,924 shares of Unity Software stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the sale, the director now owns 7,828,494 shares of the company’s stock, valued at $210,743,058.48. The trade was a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $20.04, for a total value of $3,340,006.68. Following the completion of the transaction, the director now directly owns 2,981,479 shares of the company’s stock, valued at approximately $59,748,839.16. The trade was a 5.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 781,903 shares of company stock worth $17,934,432. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on U. Hsbc Global Res raised Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. Macquarie assumed coverage on Unity Software in a research report on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Unity Software from $27.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Morgan Stanley upped their price target on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, UBS Group boosted their target price on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Unity Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.32.

Unity Software Trading Up 4.0 %

NYSE:U opened at $20.99 on Thursday. The firm has a market capitalization of $8.60 billion, a P/E ratio of -12.49 and a beta of 2.27. The business has a 50 day simple moving average of $22.46 and a 200 day simple moving average of $22.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $30.88.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Equities research analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

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.