FengHe Fund Management Pte. Ltd. Buys 742,102 Shares of Unity Software Inc. $U

Key Points

• FengHe Fund Management Pte. Ltd. increased its stake in Unity Software by 203.0%, now holding over 1.1 million shares valued at approximately $26.8 million.
• Unity Software's stock has seen a 4.5% decrease recently, with a current trading price of $38.22 amid mixed analyst ratings and price targets.
• Insider activity included CEO Matthew S. Bromberg selling 120,000 shares at $40.03 each, resulting in an 8.94% reduction of his holdings in the company.

FengHe Fund Management Pte. Ltd. grew its stake in Unity Software Inc. (NYSE:U - Free Report) by 203.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,107,702 shares of the company's stock after purchasing an additional 742,102 shares during the quarter. Unity Software makes up approximately 4.4% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 9th biggest holding. FengHe Fund Management Pte. Ltd. owned about 0.27% of Unity Software worth $26,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Atreides Management LP raised its position in shares of Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock valued at $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Unity Software during the first quarter worth $47,648,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Unity Software during the first quarter worth $43,265,000. Vanguard Group Inc. raised its holdings in shares of Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after purchasing an additional 1,841,486 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Unity Software by 89.7% during the first quarter. Ameriprise Financial Inc. now owns 3,357,530 shares of the company's stock worth $65,778,000 after acquiring an additional 1,587,582 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Down 4.5%

Unity Software stock opened at $38.22 on Thursday. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $46.94. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of -36.06 and a beta of 2.32. The company's 50-day moving average price is $39.24 and its two-hundred day moving average price is $28.81.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on U shares. Citigroup increased their price target on Unity Software from $44.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday. JMP Securities increased their price objective on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Zacks Research cut shares of Unity Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Morgan Stanley raised their price target on shares of Unity Software from $25.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Bank of America assumed coverage on shares of Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.05.

Insider Activity

In other news, CEO Matthew S. Bromberg sold 120,000 shares of Unity Software 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the transaction, the director directly owned 189,089 shares in the company, valued at $5,674,560.89. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,084,426 shares of company stock valued at $88,173,284 over the last quarter. Insiders own 3.61% of the company's stock.

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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