Unity Software Inc. $U Stake Boosted by FengHe Fund Management Pte. Ltd.

FengHe Fund Management Pte. Ltd. increased its stake in Unity Software Inc. (NYSE:U) by 203.0% during the second quarter, HoldingsChannel reports. The firm owned 1,107,702 shares of the company’s stock after acquiring an additional 742,102 shares during the period. Unity Software accounts for approximately 4.4% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 9th biggest position. FengHe Fund Management Pte. Ltd.’s holdings in Unity Software were worth $26,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in U. Farther Finance Advisors LLC boosted its holdings in shares of Unity Software by 4.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock worth $261,000 after buying an additional 454 shares during the period. Amalgamated Bank grew its position in shares of Unity Software by 3.0% in the first quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock valued at $355,000 after purchasing an additional 525 shares during the last quarter. Bouvel Investment Partners LLC boosted its stake in Unity Software by 1.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company’s stock valued at $697,000 after purchasing an additional 580 shares during the period. Signaturefd LLC boosted its stake in Unity Software by 26.3% during the 1st quarter. Signaturefd LLC now owns 3,658 shares of the company’s stock valued at $72,000 after purchasing an additional 762 shares during the period. Finally, Jessup Wealth Management Inc boosted its stake in Unity Software by 4.3% during the 1st quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company’s stock valued at $464,000 after purchasing an additional 985 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Unity Software

In related news, COO Alexander Blum sold 63,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the completion of the transaction, the chief operating officer owned 603,811 shares in the company, valued at $23,796,191.51. This trade represents a 9.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $37.75, for a total value of $5,662,500.00. Following the transaction, the director owned 1,948,146 shares of the company’s stock, valued at $73,542,511.50. This trade represents a 7.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,084,426 shares of company stock worth $88,173,284 over the last three months. 3.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

U has been the subject of several research reports. Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Zacks Research downgraded shares of Unity Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Jefferies Financial Group increased their price target on shares of Unity Software from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Morgan Stanley increased their price target on shares of Unity Software from $25.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Bank of America began coverage on shares of Unity Software in a research note on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Unity Software presently has a consensus rating of “Hold” and an average price target of $32.05.

Unity Software Price Performance

NYSE:U opened at $38.22 on Thursday. The company has a 50-day moving average of $39.24 and a 200-day moving average of $28.81. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of -36.06 and a beta of 2.32. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $46.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The business had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) EPS. As a group, equities research analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

About Unity Software

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.