The Manufacturers Life Insurance Company Buys 26,241 Shares of Unity Software Inc. (NYSE:U)

The Manufacturers Life Insurance Company increased its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 47.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,105 shares of the company's stock after purchasing an additional 26,241 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Unity Software were worth $1,335,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. boosted its holdings in shares of Unity Software by 0.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company's stock worth $4,750,000 after buying an additional 440 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Unity Software by 31.6% in the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company's stock valued at $62,000 after purchasing an additional 562 shares during the last quarter. Bouvel Investment Partners LLC grew its holdings in Unity Software by 2.7% during the first quarter. Bouvel Investment Partners LLC now owns 22,783 shares of the company's stock valued at $608,000 after purchasing an additional 597 shares during the period. Tradewinds Capital Management LLC increased its position in Unity Software by 245.6% in the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company's stock worth $26,000 after buying an additional 700 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its position in shares of Unity Software by 8.3% during the 1st quarter. Arkadios Wealth Advisors now owns 12,043 shares of the company's stock valued at $322,000 after buying an additional 924 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on U shares. Macquarie upped their price target on shares of Unity Software from $12.00 to $15.00 and gave the company an "underperform" rating in a research note on Tuesday, September 17th. Stifel Nicolaus raised their price target on Unity Software from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, September 13th. JMP Securities reiterated a "market perform" rating on shares of Unity Software in a research report on Friday, September 13th. Morgan Stanley raised Unity Software from an "equal weight" rating to an "overweight" rating and set a $22.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $17.00 target price (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Unity Software presently has an average rating of "Hold" and a consensus price target of $24.21.

Unity Software Trading Up 3.5 %

Shares of NYSE U traded up $0.74 during midday trading on Friday, reaching $21.62. The company had a trading volume of 8,506,009 shares, compared to its average volume of 14,902,962. The firm's fifty day moving average price is $18.44 and its 200-day moving average price is $19.52. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54. The stock has a market cap of $8.58 billion, a PE ratio of -10.55 and a beta of 2.28.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business had revenue of $449.30 million during the quarter, compared to analysts' expectations of $438.37 million. During the same quarter in the prior year, the company posted ($0.26) EPS. The firm's revenue for the quarter was down 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Unity Software Inc. will post -1.86 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, Director David Helgason sold 250,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares of the company's stock, valued at approximately $168,876,112.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares of the company's stock, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Anirma Gupta sold 1,506 shares of the business's stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares in the company, valued at $6,851,604.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,906 shares of company stock valued at $5,753,611. Company insiders own 6.30% of the company's stock.

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.