LMR Partners LLP Buys New Stake in Unity Software Inc. (NYSE:U)

LMR Partners LLP purchased a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 27,016 shares of the company’s stock, valued at approximately $611,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Unity Software by 426.1% during 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 period. Capital Research Global Investors increased its stake in Unity Software by 18.7% during the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after buying an additional 1,342,787 shares during the period. Van ECK Associates Corp increased its stake in Unity Software by 35.0% during the 2nd 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 period. Bank of New York Mellon Corp lifted its holdings in Unity Software by 40.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after buying an additional 424,806 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Unity Software by 161.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company’s stock valued at $9,417,000 after buying an additional 357,500 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Unity Software news, Director David Helgason sold 250,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares in the company, 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. In the last 90 days, insiders have sold 530,800 shares of company stock valued at $10,080,664. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Wedbush upped their target price on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Macquarie increased their price objective on shares of Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.35.

Unity Software Stock Performance

Shares of U stock opened at $19.79 on Wednesday. The company has a market cap of $7.97 billion, a P/E ratio of -9.70 and a beta of 2.29. The business has a 50 day moving average of $20.75 and a two-hundred day moving average of $18.65. Unity Software Inc. has a 52 week low of $13.90 and a 52 week high of $43.54. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

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.