Contrarius Group Holdings Ltd Raises Stock Holdings in Unity Software Inc. $U

Contrarius Group Holdings Ltd lifted its stake in shares of Unity Software Inc. (NYSE:U) by 42.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 545,529 shares of the company’s stock after buying an additional 161,527 shares during the quarter. Unity Software accounts for approximately 1.2% of Contrarius Group Holdings Ltd’s portfolio, making the stock its 19th biggest position. Contrarius Group Holdings Ltd’s holdings in Unity Software were worth $24,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in U. Wellington Management Group LLP grew its position in shares of Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after buying an additional 6,734,285 shares in the last quarter. Norges Bank acquired a new stake in shares of Unity Software during the fourth quarter worth approximately $230,285,000. Duquesne Family Office LLC bought a new stake in shares of Unity Software in the 2nd quarter worth about $42,932,000. WT Asset Management Ltd bought a new stake in shares of Unity Software in the 4th quarter worth about $57,626,000. Finally, FengHe Fund Management Pte. Ltd. increased its position in shares of Unity Software by 287.0% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after purchasing an additional 1,284,400 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Insider Activity at Unity Software

In other news, COO Alexander Blum sold 19,009 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $516,664.62. Following the completion of the transaction, the chief operating officer directly owned 730,069 shares of the company’s stock, valued at approximately $19,843,275.42. This represents a 2.54% 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 the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the completion of the sale, the chief accounting officer directly owned 370,654 shares in the company, valued at $10,074,375.72. This represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is owned by insiders.

Unity Software Trading Down 0.1%

NYSE U opened at $29.15 on Monday. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The company has a 50-day simple moving average of $25.59 and a 200-day simple moving average of $31.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $12.72 billion, a PE ratio of -18.56, a price-to-earnings-growth ratio of 3.73 and a beta of 2.06.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on U. Wells Fargo & Company boosted their target price on shares of Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wedbush upped their price objective on Unity Software from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Piper Sandler initiated coverage on Unity Software in a research note on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 price objective on the stock. UBS Group upped their price objective on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Barclays upped their price objective on Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.71.

About Unity Software

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.