Broad Peak Investment Advisers Pte Ltd Takes $47.65 Million Position in Unity Software Inc. (NYSE:U)

Broad Peak Investment Advisers Pte Ltd bought a new position in Unity Software Inc. (NYSE:U - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,432,258 shares of the company's stock, valued at approximately $47,648,000. Unity Software accounts for 32.1% of Broad Peak Investment Advisers Pte Ltd's portfolio, making the stock its 2nd largest position. Broad Peak Investment Advisers Pte Ltd owned approximately 0.59% of Unity Software at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd raised its position in Unity Software by 9,412.0% during the first quarter. Yong Rong HK Asset Management Ltd now owns 1,000,000 shares of the company's stock worth $19,590,000 after acquiring an additional 989,487 shares during the last quarter. Jessup Wealth Management Inc lifted its position in Unity Software by 4.3% during the first quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company's stock valued at $464,000 after buying an additional 985 shares in the last quarter. Byrne Financial Freedom LLC lifted its position in Unity Software by 75.4% during the first quarter. Byrne Financial Freedom LLC now owns 34,144 shares of the company's stock valued at $669,000 after buying an additional 14,677 shares in the last quarter. Penserra Capital Management LLC lifted its position in Unity Software by 8.3% during the first quarter. Penserra Capital Management LLC now owns 44,785 shares of the company's stock valued at $877,000 after buying an additional 3,450 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Unity Software by 1,321.3% during the first quarter. Principal Financial Group Inc. now owns 296,975 shares of the company's stock worth $5,818,000 after purchasing an additional 276,081 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on U shares. Wall Street Zen cut shares of Unity Software from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America started coverage on shares of Unity Software in a research report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price for the company. Morgan Stanley reduced their price objective on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reduced their price objective on shares of Unity Software from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Jefferies Financial Group raised shares of Unity Software from a "hold" rating to a "buy" rating and upped their price objective for the company from $22.00 to $29.00 in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Unity Software currently has an average rating of "Moderate Buy" and an average target price of $24.80.

Unity Software Stock Performance

NYSE:U traded up $0.02 during trading hours on Thursday, hitting $29.37. 6,187,248 shares of the company traded hands, compared to its average volume of 11,751,428. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of -26.16 and a beta of 2.29. Unity Software Inc. has a twelve month low of $13.90 and a twelve month high of $30.88. The firm has a 50-day moving average of $23.64 and a 200 day moving average of $22.45. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to analysts' expectations of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The business's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew S. Bromberg sold 133,072 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $2,826,449.28. Following the sale, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Helgason sold 261,473 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the completion of the sale, the director directly owned 7,489,173 shares in the company, valued at approximately $192,471,746.10. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,177,944 shares of company stock worth $28,419,375 in the last quarter. 3.61% of the stock is owned by corporate insiders.

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.