Connor Clark & Lunn Investment Management Ltd. Acquires 1,521,165 Shares of Unity Software Inc. (NYSE:U)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Unity Software Inc. (NYSE:U) by 366.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,936,131 shares of the company’s stock after acquiring an additional 1,521,165 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.48% of Unity Software worth $43,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ariose Capital Management Ltd bought a new position in shares of Unity Software in the fourth quarter valued at $2,299,000. Charles Schwab Investment Management Inc. grew its stake in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after buying an additional 944,709 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after buying an additional 330,088 shares in the last quarter. LMR Partners LLP bought a new position in Unity Software during the third quarter worth $611,000. Finally, Edgestream Partners L.P. boosted its position in Unity Software by 637.9% during the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after purchasing an additional 88,955 shares during the period. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Up 2.6 %

U stock opened at $21.52 on Thursday. The company has a market cap of $8.81 billion, a PE ratio of -12.81 and a beta of 2.27. The business has a 50-day simple moving average of $22.88 and a 200 day simple moving average of $21.88. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

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

Analyst Ratings Changes

A number of equities analysts have commented on U shares. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Friday, February 21st. Barclays lifted their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. Citigroup raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Finally, Needham & Company LLC lifted their price objective on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.61.

Insider Activity at Unity Software

In other Unity Software news, Director David Helgason sold 38,924 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 7,828,494 shares of the company’s stock, valued at approximately $210,743,058.48. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 236,337 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total value of $5,653,181.04. Following the transaction, the director now directly owns 3,161,809 shares of the company’s stock, valued at approximately $75,630,471.28. The trade was a 6.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 864,537 shares of company stock valued at $20,839,722 over the last quarter. 6.30% of the stock is owned by corporate insiders.

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.