Norges Bank Makes New $379.18 Million Investment in Unity Software Inc. (NYSE:U)

Norges Bank acquired a new stake in shares of Unity Software Inc. (NYSE:U - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 9,273,163 shares of the company's stock, valued at approximately $379,180,000. Norges Bank owned approximately 2.44% of Unity Software at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp grew its holdings in Unity Software by 4.8% during the 3rd quarter. Northern Trust Corp now owns 1,583,326 shares of the company's stock valued at $49,701,000 after buying an additional 72,770 shares in the last quarter. Natixis Advisors L.P. increased its position in Unity Software by 3.2% in the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company's stock worth $415,000 after purchasing an additional 407 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in Unity Software by 20.3% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 3,670 shares of the company's stock worth $150,000 after purchasing an additional 620 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Unity Software during the third quarter valued at $414,000. Finally, LA Financiere DE L Echiquier lifted its position in Unity Software by 25.3% during the fourth quarter. LA Financiere DE L Echiquier now owns 399,600 shares of the company's stock valued at $16,340,000 after purchasing an additional 80,600 shares during the last quarter. Institutional investors own 73.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on U. The Goldman Sachs Group lowered their price target on Unity Software from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 price target on shares of Unity Software in a research note on Friday, May 10th. JMP Securities reiterated a "market perform" rating on shares of Unity Software in a report on Friday, May 10th. Macquarie downgraded shares of Unity Software from a "neutral" rating to an "underperform" rating and set a $20.00 price objective for the company. in a research note on Monday, February 12th. Finally, Citigroup cut their target price on Unity Software from $50.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Unity Software has a consensus rating of "Hold" and an average price target of $35.38.

Unity Software Stock Performance

Shares of NYSE:U traded down $0.71 during trading on Tuesday, hitting $20.56. The stock had a trading volume of 9,051,535 shares, compared to its average volume of 9,763,480. The stock has a 50-day simple moving average of $24.88 and a two-hundred day simple moving average of $30.05. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of -9.49 and a beta of 2.40. Unity Software Inc. has a 12-month low of $20.50 and a 12-month high of $50.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.66) 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 analysts' expectations of $551.01 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. Unity Software'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 company posted ($0.50) earnings per share. On average, equities research analysts expect that Unity Software Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, SVP Felix The sold 4,374 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.55, for a total transaction of $142,373.70. Following the transaction, the senior vice president now owns 298,948 shares in the company, valued at approximately $9,730,757.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Felix The sold 4,374 shares of Unity Software stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.55, for a total value of $142,373.70. Following the sale, the senior vice president now directly owns 298,948 shares of the company's stock, valued at $9,730,757.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Anirma Gupta sold 1,037 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $24.42, for a total transaction of $25,323.54. Following the completion of the sale, the senior vice president now owns 386,706 shares of the company's stock, valued at $9,443,360.52. The disclosure for this sale can be found here. Insiders sold a total of 338,917 shares of company stock worth $9,460,820 in the last 90 days. Corporate insiders own 6.30% of the company's stock.

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.