Unity Software Receives Increased Position from DnB Asset Management

DnB Asset Management AS has raised its position in Unity Software Inc. by 64.3% during the second quarter of this year, according to a recent filing with the Securities and Exchange Commission (SEC). The fund acquired an additional 30,720 shares of Unity Software, bringing its total holdings to 78,459 shares valued at $3,407,000. Other hedge funds and institutional investors have also been buying and selling shares of the company.

One notable increase in position came from Compagnie Lombard Odier SCmA, which raised its position in Unity Software by an astonishing 2,000% during the fourth quarter. The company now owns 1,050 shares of Unity Software’s stock worth $30,000.

Unity Software, a real-time 3D development platform, has seen its stock struggle recently, with a decrease of 7.9%. The stock currently has a market capitalization of $12.82 billion and a P/E ratio of -11.78. Unity Software reported better-than-expected earnings results in August, with EPS of ($0.26), beating estimates by $0.04. The company generated revenue of $533.48 million, surpassing analysts’ expectations of $514.80 million.

There have also been several insider transactions at Unity Software. Director David Helgason sold 10,564 shares of the company’s stock for a total value of $528,200. Director Lake Group L.L.C. Silver also sold 188,007 shares of the stock, with a total transaction value of $6,911,137.32. Over the past 90 days, insiders have sold a total of 783,628 shares of company stock.

Wall Street analysts have weighed in on Unity Software, with CICC Research giving the stock an “outperform” rating, and Needham & Company, Stifel Nicolaus, and Wedbush all increasing their target prices on the stock. Unity Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.69.

/sources: MarketBeat, HoldingsChannel.com/