Norges Bank Makes New $269.32 Million Investment in Unity Software Inc. (NYSE:U)

Norges Bank purchased a new stake in Unity Software Inc. (NYSE:U) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,985,740 shares of the company’s stock, valued at approximately $269,320,000. Norges Bank owned 2.98% of Unity Software as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in U. R Squared Ltd acquired a new position in Unity Software in the 4th quarter worth $30,000. Principal Securities Inc. lifted its holdings in shares of Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after buying an additional 411 shares during the period. Whipplewood Advisors LLC bought a new position in shares of Unity Software during the fourth quarter worth about $40,000. Finally, Brooklyn Investment Group acquired a new stake in Unity Software in the 3rd quarter valued at approximately $43,000. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on U. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Macquarie started coverage on shares of Unity Software in a research report on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price for the company. UBS Group boosted their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Morgan Stanley raised their price objective on Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Wedbush reiterated an “outperform” rating and set a $27.00 target price on shares of Unity Software in a report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.61.

Insider Activity at Unity Software

In related news, CAO Mark Barrysmith sold 1,362 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares in the company, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total value of $6,255,000.00. Following the transaction, the director now owns 3,648,146 shares in the company, valued at approximately $91,276,612.92. This trade represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 865,236 shares of company stock worth $20,849,425 in the last ninety days. 6.30% of the stock is owned by company insiders.

Unity Software Price Performance

Shares of U opened at $20.52 on Friday. The company’s 50-day moving average is $22.58 and its 200-day moving average is $22.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $8.41 billion, a PE ratio of -12.21 and a beta of 2.27. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The firm had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. Equities analysts forecast that Unity Software Inc. will post -1.25 EPS 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.