DnB Asset Management AS Makes New $464,000 Investment in Unity Software Inc. (NYSE:U)

DnB Asset Management AS purchased a new stake in shares of Unity Software Inc. (NYSE:U) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 20,651 shares of the company’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock worth $699,335,000 after buying an additional 625,872 shares in the last quarter. Norges Bank bought a new stake in shares of Unity Software during the 4th quarter worth $269,320,000. Geode Capital Management LLC grew its holdings in shares of Unity Software by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock worth $106,008,000 after acquiring an additional 413,474 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Unity Software by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,958,400 shares of the company’s stock worth $44,005,000 after purchasing an additional 72,384 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Unity Software by 366.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock valued at $43,505,000 after purchasing an additional 1,521,165 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of NYSE:U opened at $20.99 on Thursday. The stock 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 moving average of $22.46 and a two-hundred day moving average of $22.31. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. 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 (NYSE:U) last announced its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The firm had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. On average, equities research analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Citigroup raised Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, March 11th. Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. 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. UBS Group increased their target price on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Unity Software has an average rating of “Moderate Buy” and an average target price of $25.32.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 2,981,479 shares of the company’s stock, valued at approximately $59,748,839.16. This represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Helgason sold 38,924 shares of the business’s 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 transaction, the director now directly owns 7,828,494 shares in the company, valued at $210,743,058.48. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 781,903 shares of company stock worth $17,934,432. 6.30% of the stock is owned by insiders.

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.