Weiss Asset Management LP Purchases New Stake in Unity Software Inc. (NYSE:U)

Weiss Asset Management LP acquired a new position in shares of Unity Software Inc. (NYSE:U) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 456,903 shares of the company’s stock, valued at approximately $10,335,000.

Several other hedge funds have also added to or reduced their stakes in U. Charles Schwab Investment Management Inc. grew its position in shares of Unity Software by 100.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after acquiring an additional 944,709 shares during the period. Erste Asset Management GmbH bought a new position in Unity Software during the third quarter valued at $12,317,000. Van ECK Associates Corp increased its position in Unity Software by 35.0% in the second quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock worth $31,805,000 after buying an additional 507,274 shares during the last quarter. Monolith Management Ltd bought a new stake in shares of Unity Software in the third quarter valued at $10,993,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock valued at $23,929,000 after buying an additional 424,806 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 764,381 shares of company stock valued at $16,140,023 over the last three months. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on U. Piper Sandler reissued a “neutral” rating and issued a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Stifel Nicolaus upped their price target on shares of Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Morgan Stanley upgraded 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. Wells Fargo & Company initiated coverage on shares of Unity Software in a report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price on the stock. Finally, Needham & Company LLC upped their target price on Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Unity Software has an average rating of “Hold” and a consensus target price of $23.35.

Unity Software Price Performance

Shares of Unity Software stock opened at $27.64 on Friday. 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 Inc. has a one year low of $13.90 and a one year high of $43.54. The business’s 50 day simple moving average is $21.58 and its two-hundred day simple moving average is $18.78. The stock has a market capitalization of $11.13 billion, a P/E ratio of -13.55 and a beta of 2.33.

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.