ARK Investment Management LLC Grows Position in Unity Software Inc. (NYSE:U)

ARK Investment Management LLC grew its stake in shares of Unity Software Inc. (NYSE:U - Free Report) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 12,189,778 shares of the company's stock after buying an additional 712,579 shares during the period. Unity Software makes up 3.0% of ARK Investment Management LLC's investment portfolio, making the stock its 10th biggest holding. ARK Investment Management LLC owned about 3.21% of Unity Software worth $498,440,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of U. Front Row Advisors LLC raised its holdings in shares of Unity Software by 15,550.0% in the second quarter. Front Row Advisors LLC now owns 626 shares of the company's stock valued at $27,000 after buying an additional 622 shares during the last quarter. Huntington National Bank grew its stake in shares of Unity Software by 665.0% during the third quarter. Huntington National Bank now owns 895 shares of the company's stock valued at $28,000 after purchasing an additional 778 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in shares of Unity Software in the fourth quarter valued at approximately $33,000. Impact Partnership Wealth LLC raised its position in Unity Software by 1,151.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,251 shares of the company's stock worth $39,000 after purchasing an additional 1,151 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Unity Software by 373.7% during the 2nd quarter. IFP Advisors Inc now owns 919 shares of the company's stock worth $40,000 after buying an additional 725 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

Insider Activity at Unity Software

In other news, SVP Anirma Gupta sold 756 shares of the firm's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the completion of the sale, the senior vice president now owns 396,985 shares in the company, valued at approximately $13,128,293.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Felix The sold 5,000 shares of Unity Software stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $27.28, for a total value of $136,400.00. Following the completion of the transaction, the senior vice president now owns 293,948 shares in the company, valued at $8,018,901.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Anirma Gupta sold 756 shares of the company's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the sale, the senior vice president now owns 396,985 shares in the company, valued at $13,128,293.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 381,669 shares of company stock valued at $11,142,107. 9.00% of the stock is owned by insiders.

Analyst Ratings Changes

U has been the topic of several recent research reports. Needham & Company LLC reduced their target price on shares of Unity Software from $40.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, February 27th. Wedbush cut their price target on Unity Software from $50.00 to $33.50 and set an "outperform" rating on the stock in a research note on Tuesday, February 27th. Citigroup decreased their price objective on Unity Software from $50.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, February 28th. Piper Sandler upgraded Unity Software from an "underweight" rating to a "neutral" rating and reduced their target price for the stock from $35.00 to $30.00 in a report on Tuesday, February 27th. Finally, William Blair reaffirmed an "outperform" rating on shares of Unity Software in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Unity Software currently has an average rating of "Hold" and an average target price of $37.03.

Unity Software Stock Down 1.1 %

Shares of U traded down $0.30 during trading hours on Thursday, hitting $26.69. The stock had a trading volume of 5,772,556 shares, compared to its average volume of 11,105,293. The firm has a 50 day simple moving average of $30.50 and a 200-day simple moving average of $31.56. Unity Software Inc. has a 1-year low of $22.20 and a 1-year high of $50.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market capitalization of $10.30 billion, a P/E ratio of -12.50 and a beta of 2.44.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.89). The business had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The business's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.50) EPS. Sell-side analysts predict that Unity Software Inc. will post -0.63 EPS for the current fiscal year.

Unity Software Company Profile

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.