Geode Capital Management LLC Boosts Position in Unity Software Inc. $U

Geode Capital Management LLC grew its holdings in shares of Unity Software Inc. (NYSE:U) by 5.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,852,047 shares of the company’s stock after acquiring an additional 328,595 shares during the quarter. Geode Capital Management LLC’s holdings in Unity Software were worth $258,547,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Unity Software by 2.8% during 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. Principal Financial Group Inc. boosted its position in shares of Unity Software by 46.5% during the third quarter. Principal Financial Group Inc. now owns 211,686 shares of the company’s stock valued at $8,476,000 after purchasing an additional 67,219 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Unity Software by 10.8% during the third quarter. ARK Investment Management LLC now owns 976,973 shares of the company’s stock valued at $39,118,000 after purchasing an additional 95,341 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Unity Software during the third quarter valued at approximately $4,727,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Unity Software during the third quarter valued at approximately $11,918,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Trading Down 4.1%

NYSE U opened at $30.85 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $24.67 and its 200 day moving average is $31.29. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The firm has a market capitalization of $13.47 billion, a PE ratio of -19.65, a P/E/G ratio of 4.12 and a beta of 2.06.

Insiders Place Their Bets

In other Unity Software news, SVP Rebecca Berenice Boyden sold 952 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the sale, the senior vice president directly owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the sale, the chief executive officer directly owned 1,557,514 shares in the company, valued at $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 204,526 shares of company stock valued at $5,521,274. Company insiders own 0.77% of the company’s stock.

Analysts Set New Price Targets

U has been the topic of several research reports. Wedbush lifted their price target on Unity Software from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. BTIG Research lifted their price target on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Morgan Stanley lifted their price target on Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Finally, UBS Group lifted their price target on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.71.

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.