IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stake in Unity Software Inc. (NYSE:U)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Unity Software Inc. (NYSE:U) by 61.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,568 shares of the company’s stock after buying an additional 8,932 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Unity Software were worth $533,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Capital International Investors increased its stake in Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after purchasing an additional 6,376,034 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after purchasing an additional 2,787,058 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after purchasing an additional 2,777,884 shares during the last quarter. Capital Research Global Investors increased its stake in Unity Software by 18.7% in the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after purchasing an additional 1,342,787 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake 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 valued at $31,805,000 after purchasing an additional 507,274 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Trading Down 2.4 %

Shares of U opened at $21.27 on Friday. The company has a market capitalization of $8.31 billion, a P/E ratio of -9.50 and a beta of 2.28. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a 50-day moving average price of $19.04 and a 200 day moving average price of $19.43.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The firm had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. Unity Software’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.26) earnings per share. Sell-side analysts forecast that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on U. Piper Sandler restated a “neutral” rating and set a $17.00 price target (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. The Goldman Sachs Group dropped their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus upped their price target on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Benchmark decreased their target price on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.21.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Felix The sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,106 shares of company stock worth $5,739,195 over the last quarter. 6.30% of the stock is owned by corporate insiders.

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.