Nano Cap New Millennium Growth Fund L P Takes Position in Unity Software Inc. $U

Key Points

• Nano Cap New Millennium Growth Fund L P disclosed a new position in Unity Software, buying 84,000 shares worth about $3.71 million in the fourth quarter. The stake makes Unity its biggest holding, accounting for about 3.2% of the fund’s portfolio.
• Institutional ownership in Unity Software remains heavy, with hedge funds and other investors holding 73.46% of the stock. Several major firms, including Vanguard and Wellington Management, also increased their holdings recently.
• Analyst sentiment is mixed but generally constructive: the stock carries an average rating of “Moderate Buy” with an average price target of $38.77. Meanwhile, insiders have been selling shares, including the company’s CAO and COO in February.

Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Unity Software Inc. (NYSE:U - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 84,000 shares of the company's stock, valued at approximately $3,710,000. Unity Software accounts for approximately 3.2% of Nano Cap New Millennium Growth Fund L P's investment portfolio, making the stock its biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in U. Vanguard Group Inc. lifted its holdings in shares of Unity Software by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company's stock worth $1,570,389,000 after buying an additional 996,685 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock worth $729,284,000 after buying an additional 6,734,285 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Unity Software by 37.8% during the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company's stock worth $112,006,000 after buying an additional 1,270,798 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Unity Software by 9.0% during the third quarter. Invesco Ltd. now owns 4,360,992 shares of the company's stock worth $174,614,000 after buying an additional 360,219 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Unity Software by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company's stock worth $128,350,000 after buying an additional 252,648 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC upped their price target on Unity Software from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Wall Street Zen lowered Unity Software from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Citizens Jmp reiterated a "market outperform" rating and set a $37.00 price target on shares of Unity Software in a report on Friday, March 27th. Bank of America upped their price target on Unity Software from $19.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, March 27th. Finally, The Goldman Sachs Group cut their price target on Unity Software from $47.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Unity Software has an average rating of "Moderate Buy" and an average target price of $38.77.

Insider Buying and Selling at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $191,144.46. Following the completion of the transaction, the chief accounting officer owned 383,901 shares in the company, valued at approximately $6,937,091.07. The trade was a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Alexander Blum sold 10,164 shares of Unity Software stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $183,663.48. Following the completion of the sale, the chief operating officer directly owned 550,966 shares of the company's stock, valued at $9,955,955.62. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 41,684 shares of company stock worth $773,350. 0.77% of the stock is currently owned by insiders.

Unity Software Price Performance

Unity Software stock opened at $25.55 on Friday. The business has a 50 day simple moving average of $23.46 and a 200 day simple moving average of $31.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The company has a market capitalization of $11.16 billion, a PE ratio of -16.28, a price-to-earnings-growth ratio of 8.20 and a beta of 2.04.

About Unity Software

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.

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