Erste Asset Management GmbH Takes Position in Unity Software Inc. (NYSE:U)

Erste Asset Management GmbH purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 546,120 shares of the company’s stock, valued at approximately $12,317,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Magnetar Financial LLC purchased a new position in Unity Software during the 2nd quarter valued at about $2,535,000. CIBC Asset Management Inc grew its position in shares of Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after purchasing an additional 330,088 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Unity Software during the 3rd quarter worth approximately $611,000. Price T Rowe Associates Inc. MD raised its position in shares of Unity Software by 187.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock worth $9,440,000 after purchasing an additional 230,696 shares during the last quarter. Finally, Creative Planning lifted its stake in Unity Software by 111.7% in the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock valued at $2,198,000 after buying an additional 71,325 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on U shares. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Tuesday, September 3rd. UBS Group lifted their price objective on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company initiated coverage on shares of Unity Software in a report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 target price on the stock. Benchmark lifted their price target on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Unity Software has a consensus rating of “Hold” and an average price target of $23.35.

Insiders Place Their Bets

In other news, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. This trade represents a 6.61 % 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 250,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 554,381 shares of company stock worth $10,631,723 over the last three months. 6.30% of the stock is owned by insiders.

Unity Software Trading Up 2.7 %

Shares of U opened at $24.11 on Monday. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $43.54. The firm has a market capitalization of $9.71 billion, a P/E ratio of -11.82 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $21.31 and its 200 day simple moving average is $18.63.

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.