Broad Peak Investment Advisers Pte Ltd Sells 448,000 Shares of Unity Software Inc. $U

Key Points

• Broad Peak Investment Advisers Pte Ltd sold 448,000 shares of Unity Software Inc., reducing its stake by 18.4%, making it the firm's second largest position at approximately 0.48% of Unity's total shares.
• Unity Software reported a loss of $0.26 EPS, missing expectations, with revenues of $440.94 million, down 1.9% year-over-year.
• Analysts show mixed sentiment on Unity Software, as ratings vary from "strong buy" to "sell," with a consensus target price of $32.65 for the stock.

Broad Peak Investment Advisers Pte Ltd lowered its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 18.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,984,258 shares of the company's stock after selling 448,000 shares during the quarter. Unity Software accounts for about 15.0% of Broad Peak Investment Advisers Pte Ltd's holdings, making the stock its 2nd largest position. Broad Peak Investment Advisers Pte Ltd owned approximately 0.48% of Unity Software worth $48,019,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC raised its holdings in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after acquiring an additional 1,212 shares during the period. CX Institutional acquired a new stake in shares of Unity Software during the second quarter valued at approximately $25,000. Banque Transatlantique SA acquired a new stake in shares of Unity Software during the first quarter valued at approximately $28,000. GAMMA Investing LLC raised its holdings in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after acquiring an additional 1,186 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Unity Software by 26.3% during the first quarter. Signaturefd LLC now owns 3,658 shares of the company's stock valued at $72,000 after acquiring an additional 762 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Performance

U stock opened at $37.14 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of -35.04 and a beta of 2.32. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $46.94. The firm has a 50 day moving average of $39.95 and a two-hundred day moving average of $29.80.

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

Insider Buying and Selling

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total value of $9,957,500.00. Following the completion of the sale, the director directly owned 1,548,146 shares of the company's stock, valued at $61,662,655.18. The trade was a 13.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 645 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $46.52, for a total transaction of $30,005.40. Following the completion of the sale, the chief accounting officer directly owned 453,788 shares of the company's stock, valued at $21,110,217.76. This represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,284,426 shares of company stock valued at $96,630,284. 3.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

U has been the topic of a number of recent analyst reports. Hsbc Global Res lowered shares of Unity Software from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. Barclays boosted their price objective on shares of Unity Software from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Needham & Company LLC boosted their price objective on shares of Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JMP Securities boosted their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Finally, BTIG Research downgraded shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Unity Software currently has a consensus rating of "Hold" and an average target price of $32.65.

Unity Software Company 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.

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