ARK Investment Management LLC Purchases 95,341 Shares of Unity Software Inc. $U

ARK Investment Management LLC boosted its position in Unity Software Inc. (NYSE:U) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976,973 shares of the company’s stock after buying an additional 95,341 shares during the quarter. ARK Investment Management LLC owned approximately 0.23% of Unity Software worth $39,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in shares of Unity Software in the 3rd quarter valued at $27,000. Atlantic Union Bankshares Corp bought a new stake in Unity Software in the second quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in Unity Software during the third quarter valued at about $38,000. Salem Investment Counselors Inc. purchased a new stake in Unity Software during the third quarter valued at about $40,000. Finally, Allworth Financial LP grew its stake in shares of Unity Software by 28.4% during the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after buying an additional 412 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Unity Software

In other Unity Software news, Director David Helgason sold 393,312 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $49.64, for a total value of $19,524,007.68. Following the completion of the transaction, the director owned 5,439,173 shares in the company, valued at approximately $270,000,547.72. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jarrod Yahes sold 12,196 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $220,381.72. Following the sale, the chief financial officer owned 533,933 shares in the company, valued at approximately $9,648,169.31. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 933,233 shares of company stock worth $45,387,419. 3.61% of the stock is owned by insiders.

Unity Software Trading Up 1.4%

NYSE:U opened at $20.31 on Thursday. The company has a 50-day moving average price of $32.95 and a 200-day moving average price of $38.19. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of -21.16, a P/E/G ratio of 10.74 and a beta of 2.14. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The company had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. During the same quarter in the previous year, the company earned ($0.30) earnings per share. Unity Software’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, January 21st. Wedbush lowered their price objective on Unity Software from $37.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Piper Sandler raised Unity Software from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $43.00 to $59.00 in a research note on Thursday, December 11th. Barclays decreased their target price on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th. Finally, Arete Research raised shares of Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Monday, December 1st. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.73.

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.