Unity Software Inc. $U Shares Acquired by FengHe Fund Management Pte. Ltd.

Key Points

• FengHe Fund Management boosted its stake in Unity by 287% in Q4 to 1,732,002 shares (about $76.5M), making Unity its 10th-largest holding and roughly 4.3% of the fund's portfolio.
• Analysts have trimmed targets recently—most notably Goldman Sachs and Citi—yet the consensus remains a Moderate Buy with an average price target of about $37.41.
• Company insiders sold a total of 41,684 shares (~$773K) in the last quarter, including sales by the CFO and COO, while insiders still own about 0.77% of the stock.

FengHe Fund Management Pte. Ltd. raised its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 287.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,732,002 shares of the company's stock after acquiring an additional 1,284,400 shares during the quarter. Unity Software makes up about 4.3% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 10th largest holding. FengHe Fund Management Pte. Ltd. owned 0.40% of Unity Software worth $76,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in Unity Software during the third quarter worth $27,000. Larson Financial Group LLC grew its position in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company's stock worth $29,000 after acquiring an additional 341 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Unity Software during the 4th quarter worth $30,000. IFP Advisors Inc purchased a new position in shares of Unity Software during the 3rd quarter worth $33,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Unity Software during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on U shares. Citigroup dropped their price objective on Unity Software from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. The Goldman Sachs Group decreased their price target on Unity Software from $47.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. Citizens Jmp reaffirmed a "market outperform" rating and set a $37.00 price target on shares of Unity Software in a report on Friday, March 27th. Freedom Capital raised Unity Software to a "strong-buy" rating in a report on Thursday, January 15th. Finally, Wedbush reiterated an "outperform" rating and set a $30.00 target price on shares of Unity Software in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Unity Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.41.

Insider Activity at Unity Software

In related news, CFO Jarrod Yahes sold 12,196 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $220,381.72. Following the transaction, the chief financial officer owned 533,933 shares in the company, valued at $9,648,169.31. The trade was a 2.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Alexander Blum sold 10,164 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $183,663.48. Following the completion of the transaction, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. This trade represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,684 shares of company stock worth $773,350 in the last quarter. Company insiders own 0.77% of the company's stock.

Unity Software Stock Up 2.6%

U opened at $26.68 on Tuesday. The stock has a market capitalization of $11.64 billion, a P/E ratio of -27.80, a price-to-earnings-growth ratio of 9.58 and a beta of 2.00. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The business's 50-day simple moving average is $21.03 and its 200-day simple moving average is $32.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $503.09 million for the quarter, compared to analysts' expectations of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS. Analysts anticipate that Unity Software Inc. will post 0.13 EPS for the current year.

About Unity Software

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.

Want to see what other hedge funds are holding U? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unity Software Inc. (NYSE:U - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.