Primecap Management Co. CA Has $18.37 Million Stake in Unity Software Inc. (NYSE:U)

Primecap Management Co. CA grew its stake in Unity Software Inc. (NYSE:U) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 811,994 shares of the company’s stock after purchasing an additional 53,541 shares during the period. Primecap Management Co. CA owned about 0.20% of Unity Software worth $18,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in Unity Software by 35.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock worth $31,805,000 after purchasing an additional 507,274 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Unity Software by 40.6% during the second quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after purchasing an additional 424,806 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Unity Software by 161.3% in the second quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company’s stock valued at $9,417,000 after buying an additional 357,500 shares during the period. CIBC Asset Management Inc raised its holdings in Unity Software by 2,665.4% in the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after buying an additional 330,088 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Unity Software by 187.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock worth $9,440,000 after buying an additional 230,696 shares during the period. 73.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

U has been the subject of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. The Goldman Sachs Group lowered their target price on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Stifel Nicolaus lifted their price objective on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.35.

Insider Activity

In other news, Director Shlomo Dovrat sold 3,750 shares of Unity Software stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $17.99, for a total transaction of $67,462.50. Following the completion of the transaction, the director now directly owns 2,394,935 shares in the company, valued at $43,084,880.65. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 534,550 shares of company stock worth $10,148,127. Company insiders own 6.30% of the company’s stock.

Unity Software Stock Up 4.7 %

Shares of NYSE U opened at $23.51 on Friday. 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 company’s fifty day simple moving average is $20.98 and its 200 day simple moving average is $18.68. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $43.54.

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.