Connor Clark & Lunn Investment Management Ltd. Purchases 1,521,165 Shares of Unity Software Inc. (NYSE:U)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Unity Software Inc. (NYSE:U) by 366.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,936,131 shares of the company’s stock after purchasing an additional 1,521,165 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Unity Software were worth $43,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in U. Charles Schwab Investment Management Inc. grew its holdings in shares of Unity Software by 100.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Unity Software in the third quarter valued at approximately $12,317,000. Monolith Management Ltd bought a new stake in Unity Software in the third quarter valued at approximately $10,993,000. Weiss Asset Management LP bought a new stake in Unity Software in the third quarter valued at approximately $10,335,000. Finally, Geode Capital Management LLC boosted its holdings in Unity Software by 9.7% in the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock valued at $106,008,000 after acquiring an additional 413,474 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

U has been the topic of several analyst reports. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a report on Friday, February 21st. Needham & Company LLC upped their target price on Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 21st. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Friday, February 21st. Finally, Barclays boosted their price target on Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.61.

Unity Software Trading Up 2.6 %

NYSE U opened at $21.52 on Thursday. The firm has a market capitalization of $8.81 billion, a P/E ratio of -12.81 and a beta of 2.27. The business has a fifty day simple moving average of $22.88 and a 200 day simple moving average of $21.88. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the 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 completion of the sale, the director now directly owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. This represents a 6.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Helgason sold 38,924 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $26.92, for a total value of $1,047,834.08. Following the completion of the transaction, the director now owns 7,828,494 shares of the company’s stock, valued at $210,743,058.48. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 864,537 shares of company stock valued at $20,839,722. 6.30% of the stock is owned by insiders.

Unity Software Profile

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.