Mirae Asset Global Investments Co. Ltd. Reduces Position in Unity Software Inc. (NYSE:U)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Unity Software Inc. (NYSE:U - Free Report) by 31.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,158 shares of the company's stock after selling 50,297 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Unity Software were worth $2,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ariose Capital Management Ltd bought a new stake in Unity Software in the fourth quarter valued at approximately $2,299,000. Charles Schwab Investment Management Inc. raised its holdings in Unity Software by 100.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company's stock valued at $42,662,000 after buying an additional 944,709 shares during the last quarter. CIBC Asset Management Inc boosted its position in Unity Software by 2,665.4% during 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 period. LMR Partners LLP purchased a new stake in Unity Software during the 3rd quarter valued at $611,000. Finally, Edgestream Partners L.P. grew its holdings in Unity Software by 637.9% in the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company's stock worth $2,328,000 after acquiring an additional 88,955 shares during the last quarter. Institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company initiated coverage on Unity Software in a report on Monday, October 28th. They issued an "equal weight" rating and a $20.00 price objective for the company. JMP Securities restated a "market perform" rating on shares of Unity Software in a report on Monday, February 3rd. Barclays boosted their price objective on shares of Unity Software from $16.00 to $18.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Finally, Needham & Company LLC raised their target price on shares of Unity Software from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.81.

Insider Activity at Unity Software

In related news, CFO Mark Barrysmith sold 1,228 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $24.44, for a total value of $30,012.32. Following the sale, the chief financial officer now owns 453,638 shares in the company, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Helgason sold 7,860 shares of Unity Software stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total transaction of $207,897.00. Following the completion of the sale, the director now directly owns 10,493 shares of the company's stock, valued at approximately $277,539.85. This trade represents a 42.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 931,154 shares of company stock valued at $21,019,520 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Unity Software Stock Down 3.1 %

Shares of U stock traded down $0.65 during trading hours on Monday, hitting $20.40. 9,613,039 shares of the company's stock traded hands, compared to its average volume of 8,746,598. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock's fifty day simple moving average is $23.30 and its two-hundred day simple moving average is $20.70. Unity Software Inc. has a 12-month low of $13.90 and a 12-month high of $35.56. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of -10.00 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.08. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The business had revenue of $446.52 million during the quarter, compared to analyst estimates of $428.01 million. During the same period last year, the business earned ($0.12) EPS. On average, analysts expect that Unity Software Inc. will post -1.72 EPS for the current year.

Unity Software Company 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.