Alight Capital Management LP Takes $2.25 Million Position in Unity Software Inc. (NYSE:U)

Alight Capital Management LP purchased a new stake in Unity Software Inc. (NYSE:U - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the company's stock, valued at approximately $2,247,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Unity Software in the fourth quarter valued at approximately $269,320,000. Slate Path Capital LP acquired a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. Capital International Investors boosted its position in shares of Unity Software by 10.4% in the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock worth $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Unity Software by 366.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock worth $43,505,000 after purchasing an additional 1,521,165 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Unity Software by 541.3% in the fourth quarter. Alliancebernstein L.P. now owns 799,817 shares of the company's stock valued at $17,972,000 after buying an additional 675,099 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the sale, the director now owns 3,481,479 shares of the company's stock, valued at $73,076,244.21. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now directly owns 450,881 shares of the company's stock, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 948,898 shares of company stock valued at $21,531,869. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on U. Hsbc Global Res raised Unity Software to a "strong-buy" rating in a research note on Friday, February 21st. Barclays boosted their price objective on shares of Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a report on Friday, February 21st. Morgan Stanley cut their target price on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Jefferies Financial Group decreased their price target on shares of Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a report on Monday, April 7th. Finally, Macquarie assumed coverage on Unity Software in a research note on Monday, March 10th. They set a "neutral" rating and a $24.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.29.

Unity Software Stock Up 1.2 %

U traded up $0.26 during trading hours on Friday, hitting $21.45. 6,120,066 shares of the company's stock were exchanged, compared to its average volume of 10,948,874. 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 Inc. has a 1-year low of $13.90 and a 1-year high of $30.88. The stock's 50-day moving average is $21.08 and its two-hundred day moving average is $22.02. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of -12.77 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company had revenue of $457.10 million during the quarter, compared to analysts' expectations of $433.47 million. Sell-side analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

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.