Unity Software Inc. (NYSE:U) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in Unity Software Inc. (NYSE:U) by 83.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,129,906 shares of the company’s stock after selling 5,535,965 shares during the quarter. ARK Investment Management LLC’s holdings in Unity Software were worth $25,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in U. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 944,709 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Unity Software in the third quarter valued at approximately $12,317,000. Monolith Management Ltd acquired a new stake in Unity Software during the third quarter worth approximately $10,993,000. Weiss Asset Management LP acquired a new stake in Unity Software during the third quarter worth approximately $10,335,000. Finally, Geode Capital Management LLC raised its holdings in Unity Software by 9.7% during the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock worth $106,008,000 after purchasing an additional 413,474 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, February 21st. Jefferies Financial Group raised their price objective on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, February 21st. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Finally, Needham & Company LLC raised their price objective on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Unity Software presently has a consensus rating of “Hold” and an average price target of $25.96.

Insider Activity at Unity Software

In other Unity Software news, SVP Felix The sold 20,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $27.43, for a total transaction of $548,600.00. Following the sale, the senior vice president now directly owns 391,960 shares in the company, valued at approximately $10,751,462.80. The trade was a 4.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Helgason sold 7,860 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total transaction of $207,897.00. Following the sale, the director now owns 10,493 shares in the company, valued at $277,539.85. The trade was a 42.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 742,766 shares of company stock worth $18,248,777 in the last three months. Insiders own 6.30% of the company’s stock.

Unity Software Stock Performance

NYSE:U opened at $25.67 on Wednesday. The firm’s fifty day moving average price is $22.60 and its 200 day moving average price is $21.34. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $33.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of -15.28 and a beta of 2.32.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The firm had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

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.