The Manufacturers Life Insurance Company Takes $3.53 Million Position in Unity Software Inc. $U

The Manufacturers Life Insurance Company purchased a new position in shares of Unity Software Inc. (NYSE:U) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 123,407 shares of the company’s stock, valued at approximately $3,527,000.

A number of other institutional investors have also recently bought and sold shares of U. Wellington Management Group LLP raised its stake in Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after buying an additional 6,734,285 shares during the period. Norges Bank bought a new position in shares of Unity Software during the 4th quarter worth approximately $230,285,000. Renaissance Technologies LLC bought a new position in shares of Unity Software during the 1st quarter worth approximately $54,534,000. Duquesne Family Office LLC acquired a new position in shares of Unity Software during the 2nd quarter worth approximately $42,932,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Unity Software by 52.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after acquiring an additional 1,465,962 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Ratings Changes

U has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and increased their price target for the company from $31.00 to $50.00 in a research note on Friday, August 7th. Citigroup upped their price objective on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Wedbush increased their price objective on shares of Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, UBS Group restated an “outperform” rating on shares of Unity Software in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.16.

Insider Activity

In other news, CFO Jarrod Yahes sold 26,017 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the transaction, the chief financial officer directly owned 678,343 shares in the company, valued at approximately $30,735,721.33. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the sale, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,547 shares of company stock valued at $4,884,202 in the last 90 days. 0.77% of the stock is owned by corporate insiders.

Unity Software Stock Performance

U opened at $40.89 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software Inc. has a 52-week low of $16.78 and a 52-week high of $52.15. The firm has a market cap of $18.00 billion, a P/E ratio of -30.07, a price-to-earnings-growth ratio of 1.84 and a beta of 2.05. The business’s fifty day moving average is $35.74 and its 200-day moving average is $27.97.

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

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.