Bridgewater Advisors Inc. Takes Position in Unity Software Inc. $U

Bridgewater Advisors Inc. purchased a new position in shares of Unity Software Inc. (NYSE:U) in the second quarter, Holdings Channel.com reports. The fund purchased 13,367 shares of the company’s stock, valued at approximately $413,000.

Several other institutional investors have also recently made changes to their positions in U. Vanguard Group Inc. lifted its holdings in Unity Software by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock valued at $1,570,389,000 after acquiring an additional 996,685 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 acquiring an additional 6,734,285 shares during the last quarter. Geode Capital Management LLC increased its stake in Unity Software by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after acquiring an additional 328,595 shares during the last quarter. Norges Bank purchased a new stake in Unity Software in the fourth quarter valued at $230,285,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Unity Software by 37.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock valued at $112,006,000 after purchasing an additional 1,270,798 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insider Activity at Unity Software

In other news, SVP Rebecca Berenice Boyden sold 952 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the sale, the senior vice president owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. This represents a 0.31% decrease in their ownership of the stock. The sale 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, CEO Matthew S. Bromberg sold 138,993 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the sale, the chief executive officer directly owned 1,557,514 shares in the company, valued at $42,333,230.52. This represents a 8.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over 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 company insiders.

Unity Software Stock Performance

Shares of Unity Software stock opened at $46.33 on Friday. The business has a 50-day moving average of $31.58 and a 200 day moving average of $26.79. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of -34.07, a price-to-earnings-growth ratio of 3.16 and a beta of 2.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 1.95.

Wall Street Analysts Forecast Growth

U has been the topic of several research analyst reports. Barclays boosted their price objective on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Wedbush lifted their price target on shares of Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. BTIG Research upped their price objective on shares of Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group reaffirmed an “outperform” rating on shares of Unity Software in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Unity Software has an average rating of “Moderate Buy” and an average target price of $45.16.

Unity Software 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.