Mirae Asset Global Investments Co. Ltd. Reduces Position in Unity Software Inc. (NYSE:U)

Mirae Asset Global Investments Co. Ltd. cut its position in Unity Software Inc. (NYSE:U - Free Report) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,066 shares of the company's stock after selling 19,092 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Unity Software were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Unity Software by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock valued at $699,335,000 after buying an additional 625,872 shares during the last quarter. Capital International Investors grew its position in shares of Unity Software by 10.4% in the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after buying an additional 1,786,032 shares during the last quarter. Norges Bank purchased a new position in shares of Unity Software in the 4th quarter valued at $269,320,000. Geode Capital Management LLC grew its position in shares of Unity Software by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after buying an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP purchased a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on U shares. Wells Fargo & Company dropped their target price on shares of Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Unity Software from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America began coverage on shares of Unity Software in a research note on Thursday, June 26th. They set an "underperform" rating and a $15.00 price target for the company. Morgan Stanley decreased their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Stifel Nicolaus decreased their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.47.

Unity Software Stock Performance

NYSE:U opened at $26.14 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $23.14 and a two-hundred day moving average price of $22.31. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a market capitalization of $10.86 billion, a P/E ratio of -23.33 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same period in the previous year, the firm posted $0.28 EPS. Unity Software's revenue was down 5.5% on a year-over-year basis. As a group, research analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In related news, Director Tomer Bar-Zeev sold 9,551 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $25.51, for a total value of $243,646.01. Following the completion of the sale, the director directly owned 748,099 shares in the company, valued at approximately $19,084,005.49. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew S. Bromberg sold 133,072 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the completion of the sale, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. The trade was a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,127,944 shares of company stock valued at $27,166,375 in the last quarter. Insiders own 3.61% of the company's stock.

Unity Software 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.

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