MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Holdings in Unity Software Inc. (NYSE:U)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its holdings in Unity Software Inc. (NYSE:U) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,828 shares of the company’s stock after selling 16,054 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Unity Software were worth $5,614,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Avanza Fonder AB bought a new position in Unity Software in the fourth quarter worth approximately $732,000. Ariose Capital Management Ltd purchased a new stake in shares of Unity Software in the 4th quarter worth $2,299,000. Encompass More Asset Management bought a new position in Unity Software in the 4th quarter worth $1,501,000. SteelPeak Wealth LLC purchased a new position in Unity Software during the fourth quarter valued at $221,000. Finally, R Squared Ltd purchased a new position in Unity Software during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of Unity Software stock opened at $22.77 on Monday. The firm has a market cap of $9.46 billion, a PE ratio of -13.55 and a beta of 2.29. The stock has a 50 day moving average of $20.52 and a 200 day moving average of $22.06. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $30.88.

Unity Software (NYSE:U) last posted its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same period in the prior year, the company earned $0.28 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, March 11th. Stifel Nicolaus reduced their target price on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Macquarie started coverage on shares of Unity Software in a report on Monday, March 10th. They set a “neutral” rating and a $24.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.21.

Insiders Place Their Bets

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the transaction, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at $9,775,100.08. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $21.59, for a total transaction of $3,598,340.53. Following the completion of the sale, the director now directly owns 2,814,812 shares in the company, valued at approximately $60,771,791.08. This represents a 5.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 783,645 shares of company stock valued at $18,063,816 in the last three months. Corporate 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.