Alight Capital Management LP Acquires 100,000 Shares of Unity Software Inc. $U

Key Points

• Alight Capital Management LP increased its holdings in Unity Software Inc. by 100%, acquiring an additional 100,000 shares to bring its total to 200,000 shares, which are now worth approximately $3.9 million.
• Other institutional investors, including Vanguard Group and Atreides Management, have also significantly increased their stakes in Unity Software, indicating strong institutional interest in the company.
• Unity Software reported disappointing earnings with a loss of ($0.26) per share, missing estimates, although it achieved revenue of $440.94 million for the quarter, surpassing expectations.

Alight Capital Management LP lifted its holdings in Unity Software Inc. (NYSE:U - Free Report) by 100.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the company's stock after acquiring an additional 100,000 shares during the period. Unity Software accounts for approximately 1.8% of Alight Capital Management LP's holdings, making the stock its 19th biggest holding. Alight Capital Management LP's holdings in Unity Software were worth $3,918,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in Unity Software in the first quarter worth about $3,918,000. Adage Capital Partners GP L.L.C. bought a new stake in Unity Software in the first quarter worth about $3,918,000. Atreides Management LP increased its position in shares of Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after acquiring an additional 5,607,572 shares during the period. PDT Partners LLC purchased a new position in shares of Unity Software during the first quarter worth approximately $835,000. Finally, Vident Advisory LLC purchased a new position in shares of Unity Software during the first quarter worth approximately $200,000. Institutional investors own 73.46% of the company's stock.

Unity Software Price Performance

Shares of U traded up $1.15 during mid-day trading on Monday, hitting $44.97. 8,836,617 shares of the company were exchanged, compared to its average volume of 12,357,283. Unity Software Inc. has a 1-year low of $15.33 and a 1-year high of $45.29. The stock has a market cap of $19.00 billion, a price-to-earnings ratio of -42.86 and a beta of 2.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The company has a 50 day moving average of $34.19 and a 200-day moving average of $26.38.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million for the quarter, compared to analysts' expectations of $425.18 million. During the same period in the previous year, the business posted ($0.32) EPS. The business's revenue for the quarter was down 1.9% on a year-over-year basis. Analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other news, CEO Matthew S. Bromberg sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total value of $4,803,600.00. Following the completion of the transaction, the chief executive officer owned 1,222,812 shares of the company's stock, valued at $48,949,164.36. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jarrod Yahes sold 29,876 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $39.32, for a total transaction of $1,174,724.32. Following the sale, the chief financial officer owned 638,504 shares of the company's stock, valued at approximately $25,105,977.28. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 631,485 shares of company stock valued at $22,467,277 in the last quarter. 3.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on U shares. Zacks Research lowered shares of Unity Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JMP Securities lifted their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. Needham & Company LLC lifted their price objective on shares of Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. BTIG Research lowered shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a report on Wednesday, July 23rd. Finally, Bank of America started coverage on shares of Unity Software in a report on Thursday, June 26th. They set an "underperform" rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.20.

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.