Unity Software Inc. $U Shares Purchased by Alight Capital Management LP

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 grew its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 100.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the company's stock after purchasing an additional 100,000 shares during the period. Unity Software makes up about 1.8% of Alight Capital Management LP's holdings, making the stock its 19th biggest position. Alight Capital Management LP's holdings in Unity Software were worth $3,918,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in U. Atreides Management LP increased its position in Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after purchasing an additional 5,607,572 shares during the period. Broad Peak Investment Advisers Pte Ltd purchased a new stake in shares of Unity Software during the 1st quarter worth approximately $47,648,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Unity Software during the 1st quarter worth approximately $43,265,000. Vanguard Group Inc. boosted its stake in shares of Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after acquiring an additional 1,841,486 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Unity Software by 3,843.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock worth $39,771,000 after acquiring an additional 1,725,070 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Insider Activity at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 150,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $37.75, for a total transaction 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 represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Alexander Blum sold 63,813 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $39.41, for a total value of $2,514,870.33. Following the sale, the chief operating officer owned 603,811 shares of the company's stock, valued at approximately $23,796,191.51. The trade was a 9.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 641,036 shares of company stock worth $22,710,923. Company insiders own 3.61% of the company's stock.

Wall Street Analysts Forecast Growth

U has been the topic of several research analyst reports. Zacks Research lowered Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Citigroup boosted their price target on Unity Software from $29.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays boosted their price target on Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Bank of America began coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price on the stock. Finally, Wedbush upped their target price on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Unity Software presently has an average rating of "Moderate Buy" and an average target price of $31.20.

Unity Software Trading Up 9.1%

Shares of Unity Software stock traded up $3.65 during trading hours on Friday, reaching $43.83. 20,028,371 shares of the company's stock were exchanged, compared to its average volume of 10,964,210. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $44.22. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of -41.35 and a beta of 2.33. The company has a fifty day moving average of $34.19 and a 200-day moving average of $26.36. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $440.94 million for the quarter, compared to analysts' expectations of $425.18 million. During the same period in the prior year, the company earned ($0.32) EPS. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts forecast that Unity Software Inc. will post -1.25 EPS 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.