Alberta Investment Management Corp Invests $2.77 Million in Unity Software Inc. (NYSE:U)

Alberta Investment Management Corp acquired a new stake in shares of Unity Software Inc. (NYSE:U) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 123,040 shares of the company’s stock, valued at approximately $2,765,000.

Several other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after acquiring an additional 944,709 shares in the last quarter. Erste Asset Management GmbH bought a new position in Unity Software in the third quarter worth approximately $12,317,000. Monolith Management Ltd purchased a new position in Unity Software during the 3rd quarter worth $10,993,000. Weiss Asset Management LP bought a new stake in Unity Software during the 3rd quarter valued at $10,335,000. Finally, Geode Capital Management LLC lifted 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 buying an additional 413,474 shares during the period. Institutional investors own 73.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 210,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total value of $5,508,300.00. Following the transaction, the director now directly owns 967,650 shares of the company’s stock, valued at approximately $25,381,459.50. This represents a 17.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total value of $30,243.60. Following the sale, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at $9,775,100.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 679,264 shares of company stock valued at $16,612,383. Insiders own 6.30% of the company’s stock.

Unity Software Stock Up 30.2 %

Shares of U stock opened at $27.96 on Friday. The stock’s fifty day moving average price is $22.45 and its 200 day moving average price is $20.99. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $33.43. The company has a market cap of $11.26 billion, a price-to-earnings ratio of -13.70 and a beta of 2.32. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. On average, research analysts expect that Unity Software Inc. will post -1.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on U. Morgan Stanley raised their price target on Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. UBS Group raised their target price on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group increased their price objective on shares of Unity Software from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.