Man Group plc Purchases New Position in Unity Software Inc. (NYSE:U)

Man Group plc acquired a new stake in Unity Software Inc. (NYSE:U - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 651,909 shares of the company's stock, valued at approximately $14,648,000. Man Group plc owned about 0.16% of Unity Software at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Unity Software by 11.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 33,804 shares of the company's stock valued at $772,000 after purchasing an additional 3,340 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Unity Software by 24.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,026,810 shares of the company's stock valued at $23,072,000 after acquiring an additional 198,515 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Unity Software by 7.3% during the 4th quarter. Janus Henderson Group PLC now owns 127,649 shares of the company's stock valued at $2,870,000 after buying an additional 8,649 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $1,505,000. Finally, Deutsche Bank AG increased its position in shares of Unity Software by 0.8% during the fourth quarter. Deutsche Bank AG now owns 231,673 shares of the company's stock worth $5,206,000 after acquiring an additional 1,902 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a research note on Friday, February 21st. Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Stifel Nicolaus cut their price objective on Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Unity Software in a research note on Monday, February 3rd. 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.com, the stock presently has an average rating of "Hold" and an average price target of $24.21.

Unity Software Stock Performance

Shares of NYSE U traded down $0.01 during trading hours on Tuesday, hitting $22.23. 7,848,262 shares of the company's stock were exchanged, compared to its average volume of 10,968,460. The company's 50-day moving average price is $20.57 and its 200-day moving average price is $22.07. Unity Software Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of -13.23 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to analysts' expectations of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Unity Software's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Mark Barrysmith sold 1,414 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $21.42, for a total value of $30,287.88. Following the sale, the chief accounting officer now directly owns 480,408 shares in the company, valued at $10,290,339.36. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Helgason sold 38,924 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the completion of the sale, the director now owns 7,828,494 shares in the company, valued at approximately $210,743,058.48. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 781,785 shares of company stock valued at $18,023,491 in the last 90 days. 6.30% of the stock is currently owned by 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.