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

DnB Asset Management AS purchased a new position in shares of Unity Software Inc. (NYSE:UGet Rating) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 48,650 shares of the company’s stock, valued at approximately $1,791,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Oak Wealth Management Inc. bought a new stake in Unity Software during the fourth quarter worth $25,000. Rockbridge Investment Management LCC acquired a new position in shares of Unity Software in the fourth quarter valued at $26,000. San Luis Wealth Advisors LLC acquired a new position in shares of Unity Software in the first quarter valued at $31,000. Tcwp LLC acquired a new position in shares of Unity Software in the first quarter valued at $26,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new position in shares of Unity Software in the first quarter valued at $28,000. 77.37% of the stock is owned by institutional investors.

Unity Software Stock Down 0.9 %

U stock opened at $34.90 on Thursday. The stock has a market capitalization of $10.41 billion, a P/E ratio of -15.44 and a beta of 1.90. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.75. Unity Software Inc. has a 12 month low of $29.09 and a 12 month high of $210.00. The firm has a 50-day moving average price of $42.37 and a 200-day moving average price of $55.50.

Unity Software (NYSE:UGet Rating) last posted its earnings results on Tuesday, August 9th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.02). The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $299.05 million. Unity Software had a negative return on equity of 22.71% and a negative net margin of 54.01%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. As a group, equities research analysts anticipate that Unity Software Inc. will post -1.81 EPS for the current fiscal year.

Insider Activity at Unity Software

In related news, CFO Luis Felipe Visoso sold 9,894 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.94, for a total value of $454,530.36. Following the completion of the transaction, the chief financial officer now owns 314,251 shares in the company, valued at approximately $14,436,690.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Luis Felipe Visoso sold 9,894 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.94, for a total value of $454,530.36. Following the completion of the transaction, the chief financial officer now owns 314,251 shares in the company, valued at approximately $14,436,690.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Carol W. Carpenter sold 797 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $36.67, for a total transaction of $29,225.99. Following the completion of the transaction, the chief marketing officer now owns 219,600 shares of the company’s stock, valued at approximately $8,052,732. The disclosure for this sale can be found here. Insiders sold a total of 26,367 shares of company stock worth $1,229,421 in the last quarter. 6.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on U. Barclays upped their price objective on shares of Unity Software from $35.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Benchmark initiated coverage on shares of Unity Software in a research note on Wednesday, June 15th. They issued a “sell” rating and a $27.00 price target on the stock. Jefferies Financial Group decreased their price target on shares of Unity Software from $40.00 to $36.00 in a research note on Thursday, June 16th. Credit Suisse Group decreased their price target on shares of Unity Software from $137.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 21st. Finally, KeyCorp started coverage on shares of Unity Software in a research note on Thursday, June 30th. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.93.

Unity Software Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Unity Software (NYSE:U)

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