5 Best ARK Stocks to Invest In

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In this article, we discuss the 5 best ARK stocks to invest in. If you want to read our detailed analysis of these stocks, go directly to 12 Best ARK Stocks to Invest In.

5. Unity Software Inc. (NYSE: U)

Number of Hedge Fund Holders: 29

Weight: 4.69%

San Francisco-based 3D development platform Unity Software Inc. (NYSE: U) ranks 5th on the list of 12 best ARK stocks to invest in. Unity Software Inc. (NYSE: U) provides software solutions in developing gaming, gambling, and other mobile apps.

According to the latest data from ARK Investment Management LLC, the hedge fund owned 8,326,331 shares of Unity Software Inc. (NYSE: U) worth $1.04 billion as of August 25, 2021, accounting for 4.69% of the Ark Innovation ETF (NYSEARCA: ARKK).

Unity Software Inc. (NYSE: U) saw its stock rise 11.2% on August 11 as analysts anticipate conservative revenue growth in the third quarter. On August 11, Goldman Sachs analyst Kash Rangan initiated a Buy rating on Unity Software Inc. (NYSE: U) with a $135 price target, noting that the company is well-positioned to benefit from the gaming software industry’s growth.

The company has a market cap of $34.70 billion. In the second quarter of 2021, Unity Software Inc. (NYSE: U) reported an EPS of -$0.02, beating estimates by $0.10. The company’s second quarter-quarter revenue grew 48% year over year to $273.56 million and beat revenue estimates by $30.82 million.

At the end of the second quarter of 2021, 29 hedge funds in the database of Insider Monkey held stakes worth $7.26 billion in Unity Software Inc. (NYSE: U), down from 39 in the preceding quarter worth $6.69 billion. 

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