Maytree Asset Management Ltd Buys 115,111 Shares of Unity Software Inc. $U

Maytree Asset Management Ltd raised its stake in shares of Unity Software Inc. (NYSE:U) by 112.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 217,846 shares of the company’s stock after acquiring an additional 115,111 shares during the period. Unity Software comprises about 7.8% of Maytree Asset Management Ltd’s investment portfolio, making the stock its 4th biggest position. Maytree Asset Management Ltd’s holdings in Unity Software were worth $8,723,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Unity Software by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after acquiring an additional 45,481 shares during the period. Focus Partners Wealth purchased a new stake in Unity Software during the first quarter worth $260,000. Farther Finance Advisors LLC grew its position in Unity Software by 4.4% during the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock valued at $261,000 after buying an additional 454 shares during the period. Norden Group LLC purchased a new position in Unity Software in the second quarter valued at $203,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Unity Software by 4.7% in the second quarter. Public Employees Retirement System of Ohio now owns 99,371 shares of the company’s stock worth $2,405,000 after acquiring an additional 4,491 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Mark Barrysmith sold 14,407 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total value of $720,494.07. Following the completion of the sale, the chief accounting officer owned 394,479 shares of the company’s stock, valued at $19,727,894.79. This represents a 3.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 8,347 shares of Unity Software stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.16, for a total transaction of $410,338.52. Following the sale, the director directly owned 7,635 shares in the company, valued at approximately $375,336.60. The trade was a 52.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,647,935 shares of company stock valued at $75,174,498. Insiders own 3.61% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the subject of several recent analyst reports. Freedom Capital upgraded Unity Software to a “strong-buy” rating in a research note on Thursday, January 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unity Software in a research report on Wednesday. Wedbush boosted their price target on shares of Unity Software from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Macquarie raised shares of Unity Software from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $33.00 to $50.00 in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and an average price target of $45.27.

Unity Software Price Performance

Unity Software stock opened at $42.35 on Friday. The company has a fifty day simple moving average of $43.94 and a 200-day simple moving average of $40.01. The firm has a market capitalization of $18.12 billion, a price-to-earnings ratio of -40.33, a PEG ratio of 44.38 and a beta of 2.04. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $52.15.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. Unity Software’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) earnings per share. On average, equities analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

About Unity Software

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.