Alight Capital Management LP Sells 75,000 Shares of Unity Software Inc. $U

Alight Capital Management LP reduced its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 60.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company's stock after selling 75,000 shares during the quarter. Alight Capital Management LP's holdings in Unity Software were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Freestone Grove Partners LP bought a new position in shares of Unity Software during the fourth quarter valued at $10,212,000. Synergy Financial Group LTD grew its stake in shares of Unity Software by 9.4% during the 4th quarter. Synergy Financial Group LTD now owns 9,175 shares of the company's stock valued at $405,000 after purchasing an additional 791 shares during the period. Metavasi Capital LP bought a new stake in shares of Unity Software during the 4th quarter valued at about $6,626,000. Polar Asset Management Partners Inc. grew its stake in shares of Unity Software by 435,869.2% during the 4th quarter. Polar Asset Management Partners Inc. now owns 113,300 shares of the company's stock valued at $5,004,000 after purchasing an additional 113,326 shares during the period. Finally, J. Goldman & Co LP bought a new stake in shares of Unity Software during the 4th quarter valued at about $481,000. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Performance

NYSE:U opened at $26.48 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $52.15. The stock has a 50-day moving average price of $26.64 and a 200 day moving average price of $30.36. The stock has a market capitalization of $11.56 billion, a P/E ratio of -16.87, a P/E/G ratio of 3.59 and a beta of 2.06.

Analyst Upgrades and Downgrades

U has been the subject of a number of recent research reports. Barclays boosted their price target on Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Citizens Jmp restated a "market outperform" rating and set a $37.00 price target on shares of Unity Software in a research note on Friday, March 27th. Piper Sandler initiated coverage on Unity Software in a research note on Tuesday, June 2nd. They set an "overweight" rating and a $40.00 price target for the company. Citigroup cut their price target on Unity Software from $43.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, BTIG Research upped their price target on Unity Software from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $37.71.

Insiders Place Their Bets

In other Unity Software news, SVP Rebecca Berenice Boyden sold 952 shares of Unity Software stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the sale, the senior vice president owned 309,445 shares of the company's stock, valued at $8,416,904. The trade was a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $27.37, for a total value of $57,449.63. Following the completion of the sale, the chief operating officer directly owned 727,970 shares of the company's stock, valued at $19,924,538.90. The trade was a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 198,321 shares of company stock worth $5,390,783. Insiders own 0.77% of the company's stock.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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