Mitsubishi UFJ Asset Management Co. Ltd. Sells 87,529 Shares of Unity Software Inc. $U

Mitsubishi UFJ Asset Management Co. Ltd. decreased its stake in shares of Unity Software Inc. (NYSE:U) by 44.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 109,229 shares of the company’s stock after selling 87,529 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Unity Software were worth $4,833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after buying an additional 45,481 shares during the period. Focus Partners Wealth acquired a new stake in Unity Software in the 1st quarter worth about $260,000. Northwestern Mutual Wealth Management Co. raised its stake in Unity Software by 28.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock worth $134,000 after purchasing an additional 1,241 shares in the last quarter. California Public Employees Retirement System raised its stake in Unity Software by 11.3% in the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock worth $12,603,000 after purchasing an additional 53,015 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Unity Software by 1,135.6% in the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock worth $5,438,000 after purchasing an additional 206,529 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Analyst Ratings Changes

U has been the subject of several analyst reports. Benchmark reiterated a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. Citigroup dropped their price objective on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Freedom Capital upgraded shares of Unity Software to a “strong-buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company lifted their price objective on shares of Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Oppenheimer upgraded shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.77.

Unity Software Price Performance

Shares of NYSE:U opened at $26.82 on Tuesday. The firm has a 50 day moving average of $22.39 and a 200-day moving average of $32.45. The stock has a market capitalization of $11.71 billion, a PE ratio of -17.08, a PEG ratio of 10.37 and a beta of 2.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, February 11th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative net margin of 34.99% and a negative return on equity of 1.27%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) EPS. On average, equities research analysts predict that Unity Software Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In related news, CAO Mark Barrysmith sold 10,578 shares of Unity Software stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the sale, the chief accounting officer directly owned 383,901 shares of the company’s stock, valued at approximately $6,937,091.07. The trade was a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Alexander Blum sold 10,164 shares of Unity Software stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $183,663.48. Following the sale, the chief operating officer directly owned 550,966 shares in the company, valued at $9,955,955.62. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 41,684 shares of company stock worth $773,350. 0.77% of the stock is currently owned by corporate insiders.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.