ARK Investment Management LLC Boosts Holdings in Unity Software Inc. (NYSE:U)

ARK Investment Management LLC raised its holdings in shares of Unity Software Inc. (NYSE:U) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,189,778 shares of the company’s stock after acquiring an additional 712,579 shares during the quarter. Unity Software makes up 3.0% of ARK Investment Management LLC’s portfolio, making the stock its 10th biggest position. ARK Investment Management LLC’s holdings in Unity Software were worth $498,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of U. Norges Bank bought a new stake in shares of Unity Software in the 4th quarter valued at about $157,766,000. Clearbridge Investments LLC increased its stake in shares of Unity Software by 2,365.2% in the 1st quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock valued at $438,545,000 after acquiring an additional 4,241,060 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Unity Software during the 3rd quarter worth approximately $82,988,000. Vanguard Group Inc. increased its stake in Unity Software by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock worth $1,714,261,000 after purchasing an additional 2,531,507 shares in the last quarter. Finally, Anatole Investment Management Ltd bought a new stake in Unity Software during the 2nd quarter worth approximately $71,621,000. 73.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $30.00 in a research note on Tuesday, February 27th. Macquarie cut Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a research note on Monday, February 12th. Barclays lowered their target price on Unity Software from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. HSBC assumed coverage on Unity Software in a research note on Monday, December 18th. They set a “hold” rating and a $37.00 target price for the company. Finally, Needham & Company LLC decreased their price target on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $37.03.

Insiders Place Their Bets

In other Unity Software news, SVP Anirma Gupta sold 756 shares of Unity Software stock in a transaction on Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the completion of the transaction, the senior vice president now directly owns 396,985 shares of the company’s stock, valued at $13,128,293.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Luis Felipe Visoso sold 2,446 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $39.98, for a total value of $97,791.08. Following the completion of the sale, the chief financial officer now owns 1,114,976 shares of the company’s stock, valued at $44,576,740.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Anirma Gupta sold 756 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the completion of the sale, the senior vice president now directly owns 396,985 shares of the company’s stock, valued at approximately $13,128,293.95. The disclosure for this sale can be found here. Insiders sold a total of 381,669 shares of company stock valued at $11,142,107 over the last ninety days. 9.00% of the stock is currently owned by company insiders.

Unity Software Price Performance

NYSE:U opened at $27.00 on Thursday. Unity Software Inc. has a 1-year low of $22.20 and a 1-year high of $50.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a fifty day simple moving average of $30.50 and a 200 day simple moving average of $31.56.

Unity Software (NYSE:U) last released its earnings results 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 net margin of 37.64% and a negative return on equity of 10.14%. The firm had revenue of $609.27 million during the quarter, compared to the consensus estimate of $551.01 million. During the same period in the prior year, the business posted ($0.50) earnings per share. Unity Software’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts expect that Unity Software Inc. will post -0.63 EPS 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.