Geode Capital Management LLC Purchases 328,595 Shares of Unity Software Inc. $U

Geode Capital Management LLC increased its position in Unity Software Inc. (NYSE:U) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,852,047 shares of the company’s stock after buying an additional 328,595 shares during the quarter. Geode Capital Management LLC owned 1.37% of Unity Software worth $258,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Praxis Capital Management LLC bought a new stake in Unity Software in the 4th quarter worth approximately $243,000. Catalyst Funds Management Pty Ltd bought a new stake in Unity Software in the 4th quarter worth approximately $648,000. Coldstream Capital Management Inc. bought a new stake in Unity Software in the 4th quarter worth approximately $225,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Unity Software in the 4th quarter worth approximately $3,710,000. Finally, Global Retirement Partners LLC lifted its position in Unity Software by 357.5% in the 4th quarter. Global Retirement Partners LLC now owns 4,154 shares of the company’s stock worth $183,000 after buying an additional 3,246 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of Unity Software stock opened at $30.85 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $24.67 and its two-hundred day simple moving average is $31.29. The stock has a market capitalization of $13.47 billion, a P/E ratio of -19.65, a price-to-earnings-growth ratio of 4.12 and a beta of 2.06. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15.

Insiders Place Their Bets

In other news, SVP Rebecca Berenice Boyden sold 952 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total transaction of $25,894.40. Following the transaction, the senior vice president directly owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the transaction, the chief financial officer directly owned 704,360 shares in the company, valued at $19,144,504.80. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 204,526 shares of company stock worth $5,521,274. 0.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

U has been the subject of a number of recent research reports. Oppenheimer upgraded Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Tuesday, February 10th. Needham & Company LLC lifted their price target on Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. BTIG Research lifted their price target on Unity Software from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Citigroup decreased their price target on Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $37.00 price target on shares of Unity Software in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and an average target price of $37.71.

Unity Software 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.