ARK Investment Management LLC Acquires 95,341 Shares of Unity Software Inc. $U

ARK Investment Management LLC lifted its stake in Unity Software Inc. (NYSE:U) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 976,973 shares of the company’s stock after purchasing an additional 95,341 shares during the quarter. ARK Investment Management LLC’s holdings in Unity Software were worth $39,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new position in Unity Software during the second quarter valued at $205,000. Vanguard Group Inc. increased its holdings in shares of Unity Software by 2.8% during the third quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after acquiring an additional 930,293 shares in the last quarter. Austin Wealth Management LLC bought a new position in shares of Unity Software during the second quarter valued at $208,000. PNC Financial Services Group Inc. raised its position in shares of Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after purchasing an additional 13,245 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd boosted its stake in Unity Software by 43.6% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock worth $114,091,000 after purchasing an additional 865,179 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Benchmark reissued a “hold” rating on shares of Unity Software in a research report on Monday, February 2nd. Citigroup decreased their price objective on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Wall Street Zen downgraded Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Wells Fargo & Company reduced their target price on Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.73.

Insider Buying and Selling at Unity Software

In other news, CFO Jarrod Yahes sold 12,196 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $220,381.72. Following the transaction, the chief financial officer directly owned 533,933 shares of the company’s stock, valued at $9,648,169.31. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Alexander Blum sold 2,541 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $18.76, for a total transaction of $47,669.16. Following the completion of the sale, the chief operating officer directly owned 548,425 shares of the company’s stock, valued at $10,288,453. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 933,233 shares of company stock valued at $45,387,419 in the last ninety days. 3.61% of the stock is currently owned by company insiders.

Unity Software Stock Performance

Shares of U opened at $20.31 on Thursday. The firm has a market capitalization of $8.79 billion, a P/E ratio of -21.16, a PEG ratio of 10.74 and a beta of 2.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84. Unity Software Inc. has a one year low of $15.33 and a one year high of $52.15. The business has a fifty day moving average of $32.95 and a 200 day moving average of $38.19.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm posted ($0.30) earnings per share. As a group, sell-side analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.