North Dakota State Investment Board Invests $1.26 Million in Unity Software Inc. $U

North Dakota State Investment Board purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,426 shares of the company’s stock, valued at approximately $1,256,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after acquiring an additional 996,685 shares during the period. Wellington Management Group LLP raised its holdings in shares of Unity Software by 58.7% during the 3rd 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 period. Ameriprise Financial Inc. raised its holdings in shares of Unity Software by 37.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after acquiring an additional 1,270,798 shares during the period. Invesco Ltd. raised its holdings in shares of Unity Software by 9.0% during the 3rd quarter. Invesco Ltd. now owns 4,360,992 shares of the company’s stock worth $174,614,000 after acquiring an additional 360,219 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Unity Software by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company’s stock worth $128,350,000 after acquiring an additional 252,648 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Citizens Jmp reiterated a “market outperform” rating and set a $37.00 price target on shares of Unity Software in a report on Friday, March 27th. Benchmark reiterated a “hold” rating on shares of Unity Software in a report on Monday, February 2nd. Needham & Company LLC boosted their price objective on shares of Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley boosted their price objective on shares of Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 27th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Unity Software Stock Down 2.0%

Shares of U opened at $26.25 on Wednesday. The firm has a market cap of $11.46 billion, a P/E ratio of -16.72, a price-to-earnings-growth ratio of 8.38 and a beta of 2.04. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15. The company’s 50-day moving average price is $23.26 and its 200 day moving average price is $32.02. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Activity at Unity Software

In related news, CAO Mark Barrysmith sold 10,578 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $191,144.46. Following the sale, the chief accounting officer directly owned 383,901 shares in the company, valued at approximately $6,937,091.07. The trade was a 2.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jarrod Yahes sold 6,205 shares of Unity Software stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $21.03, for a total value of $130,491.15. Following the completion of the transaction, the chief financial officer directly owned 728,381 shares of the company’s stock, valued at approximately $15,317,852.43. This represents a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,684 shares of company stock worth $773,350. Company insiders own 0.77% of the company’s stock.

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.