DNB Asset Management AS Has $224,000 Position in Unity Software Inc. $U

DNB Asset Management AS lessened its stake in Unity Software Inc. (NYSE:U) by 90.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,588 shares of the company’s stock after selling 54,864 shares during the period. DNB Asset Management AS’s holdings in Unity Software were worth $224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Unity Software in the 3rd quarter valued at $27,000. Atlantic Union Bankshares Corp bought a new position in Unity Software in the second quarter valued at about $28,000. Salem Investment Counselors Inc. acquired a new stake in Unity Software in the third quarter worth about $40,000. Allworth Financial LP increased its position in Unity Software by 28.4% in the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after purchasing an additional 412 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Unity Software by 81.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,187 shares of the company’s stock worth $48,000 after purchasing an additional 533 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Wedbush reduced their price objective on shares of Unity Software from $37.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company dropped their target price on shares of Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Morgan Stanley increased their price target on Unity Software from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Finally, Macquarie Infrastructure upgraded Unity Software from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $33.00 to $50.00 in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.73.

Insider Buying and Selling

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

Unity Software Trading Up 1.4%

U opened at $20.31 on Thursday. The firm’s fifty day moving average is $32.95 and its two-hundred day moving average is $38.19. The firm has a market cap of $8.79 billion, a PE ratio of -21.16, a price-to-earnings-growth ratio of 10.74 and a beta of 2.14. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million during the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. Equities research 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.