Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 237,508 Unity Software Inc. $U

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Unity Software Inc. (NYSE:U) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 237,508 shares of the company’s stock, valued at approximately $6,788,000.

A number of other institutional investors and hedge funds have also modified their holdings of U. REAP Financial Group LLC acquired a new position in shares of Unity Software during the 4th quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. IFP Advisors Inc acquired a new stake in Unity Software in the 3rd quarter worth about $33,000. International Assets Investment Management LLC acquired a new stake in Unity Software in the 4th quarter worth about $36,000. Finally, Cornerstone Planning Group LLC increased its stake in Unity Software by 3,953.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $49,000 after buying an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Price Performance

Shares of U stock opened at $46.90 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $20.64 billion, a PE ratio of -34.49, a price-to-earnings-growth ratio of 2.04 and a beta of 2.04. The firm’s 50-day moving average is $33.48 and its two-hundred day moving average is $27.07. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Analysts predict that Unity Software Inc. will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on U shares. Wedbush increased their target price on Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Weiss Ratings raised Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Oppenheimer boosted their price target on Unity Software from $38.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Citigroup raised their price objective on Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Insider Transactions at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer owned 370,654 shares of the company’s stock, valued at $10,074,375.72. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of Unity Software stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the sale, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. This represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 198,321 shares of company stock valued at $5,390,783 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

Unity Software Profile

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.