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

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 193.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,455 shares of the company's stock after purchasing an additional 105,100 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Unity Software were worth $3,602,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital International Investors increased its stake in Unity Software by 426.1% during the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company's stock valued at $210,193,000 after purchasing an additional 6,376,034 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Unity Software by 32.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company's stock valued at $302,419,000 after buying an additional 2,787,058 shares during the last quarter. Capital Research Global Investors raised its holdings in Unity Software by 18.7% in the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company's stock worth $227,603,000 after acquiring an additional 1,342,787 shares during the last quarter. Van ECK Associates Corp lifted its position 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 valued at $31,805,000 after acquiring an additional 507,274 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company's stock valued at $23,929,000 after purchasing an additional 424,806 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Price Performance

NYSE U traded down $0.03 on Wednesday, reaching $20.70. The company had a trading volume of 5,005,440 shares, compared to its average volume of 10,392,937. The firm's 50 day moving average price is $19.86 and its 200 day moving average price is $19.06. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $43.54. The stock has a market capitalization of $8.21 billion, a PE ratio of -10.10 and a beta of 2.28. 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 (NYSE:U - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The business had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. During the same quarter in the previous year, the company posted ($0.26) EPS. The company's revenue was down 15.8% compared to the same quarter last year. As a group, equities analysts predict that Unity Software Inc. will post -1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Macquarie upped their target price 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. Wedbush raised their target price on shares of Unity Software from $21.00 to $27.00 and gave the stock an "outperform" rating in a report on Monday, September 16th. Oppenheimer reaffirmed a "market perform" rating on shares of Unity Software in a research report on Friday, October 18th. The Goldman Sachs Group lowered their price target on Unity Software from $26.00 to $22.50 and set a "neutral" rating on the stock in a report on Friday, August 9th. Finally, JMP Securities reaffirmed 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, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.35.

Insider Transactions at Unity Software

In other news, SVP Felix The sold 30,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unity Software news, SVP Felix The sold 30,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares of the company's stock, valued at $7,579,617.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction 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 sale, the director now owns 8,201,851 shares of the company's stock, valued at approximately $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 281,600 shares of company stock worth $5,714,000. 6.30% of the stock is currently owned by company insiders.

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.