Unity Software Inc. (NYSE:U) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its stake in Unity Software Inc. (NYSE:U) by 41.0% in the third quarter, HoldingsChannel.com reports. The firm owned 6,665,871 shares of the company’s stock after selling 4,639,335 shares during the quarter. Unity Software accounts for 1.4% of ARK Investment Management LLC’s portfolio, making the stock its 22nd largest position. ARK Investment Management LLC’s holdings in Unity Software were worth $150,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in U. Emerald Advisers LLC lifted its holdings in shares of Unity Software by 108.1% in the third quarter. Emerald Advisers LLC now owns 20,554 shares of the company’s stock valued at $465,000 after purchasing an additional 10,679 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Unity Software by 4.0% in the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock valued at $315,000 after purchasing an additional 538 shares during the period. US Bancorp DE increased its position in Unity Software by 159.7% during the third quarter. US Bancorp DE now owns 13,257 shares of the company’s stock worth $300,000 after purchasing an additional 8,152 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in Unity Software in the third quarter valued at $242,000. Finally, Nisa Investment Advisors LLC grew its position in Unity Software by 996.7% during the third quarter. Nisa Investment Advisors LLC now owns 16,450 shares of the company’s stock valued at $372,000 after acquiring an additional 14,950 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Transactions at Unity Software

In related news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Helgason sold 250,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 281,600 shares of company stock valued at $5,714,000. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the subject of a number of research analyst reports. Wedbush raised their price target on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Benchmark reduced their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a report on Friday, August 9th. Macquarie lifted their price objective on Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a report on Tuesday, September 17th. The Goldman Sachs Group reduced their target price on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Oppenheimer reissued a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.35.

Unity Software Price Performance

Shares of U stock opened at $22.24 on Friday. The business has a 50 day simple moving average of $20.22 and a 200 day simple moving average of $18.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The business had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company’s revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.26) earnings per share. Sell-side analysts anticipate that Unity Software Inc. will post -1.86 earnings per share for the current year.

About Unity Software

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.