DNB Asset Management AS Sells 54,864 Shares of Unity Software Inc. $U

DNB Asset Management AS trimmed its holdings in Unity Software Inc. (NYSE:U) by 90.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,588 shares of the company’s stock after selling 54,864 shares during the quarter. DNB Asset Management AS’s holdings in Unity Software were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in shares of Unity Software during the 2nd quarter worth about $205,000. Vanguard Group Inc. lifted its stake in shares of Unity Software by 2.8% in the third quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after buying an additional 930,293 shares during the period. Austin Wealth Management LLC acquired a new stake in Unity Software during the second quarter worth about $208,000. PNC Financial Services Group Inc. increased its stake in Unity Software by 148.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after acquiring an additional 13,245 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd raised its holdings in Unity Software by 43.6% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock valued at $114,091,000 after acquiring an additional 865,179 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling at Unity Software

In related news, COO Alexander Blum sold 2,541 shares of Unity Software stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.76, for a total value of $47,669.16. Following the completion of the transaction, the chief operating officer directly owned 548,425 shares of the company’s stock, valued at $10,288,453. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 50,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $47.00, for a total transaction of $2,350,000.00. Following the transaction, the director owned 873,146 shares in the company, valued at approximately $41,037,862. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 933,233 shares of company stock worth $45,387,419 over the last 90 days. Company insiders own 3.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on U shares. Barclays decreased their price objective on Unity Software from $35.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Unity Software in a research note on Wednesday, February 11th. Bank of America raised shares of Unity Software from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $18.00 to $19.00 in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Finally, UBS Group decreased their target price on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.73.

Unity Software Stock Up 1.4%

Shares of NYSE:U opened at $20.31 on Thursday. The company’s fifty day moving average is $32.95 and its 200-day moving average is $38.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The company has a market capitalization of $8.79 billion, a PE ratio of -21.16, a P/E/G ratio of 10.74 and a beta of 2.14.

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. The firm had revenue of $503.09 million during the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted ($0.30) EPS. Equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

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.