WT Asset Management Ltd Purchases Shares of 1,304,647 Unity Software Inc. $U

Key Points

• WT Asset Management Ltd bought 1,304,647 shares of Unity Software in Q4 for about $57.63 million, equal to roughly 0.30% ownership and making Unity its 17th-largest holding (2.3% of the firm's portfolio).
• Major institutions including Vanguard, Wellington, Ameriprise, Invesco and MFS have recently increased stakes, and institutional investors now own 73.46% of Unity's stock.
• Insiders sold 41,684 shares over the past three months (including CFO and COO sales), while analysts hold a "Moderate Buy" consensus with a $37.41 average price target.

WT Asset Management Ltd purchased a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,304,647 shares of the company's stock, valued at approximately $57,626,000. Unity Software accounts for about 2.3% of WT Asset Management Ltd's investment portfolio, making the stock its 17th largest holding. WT Asset Management Ltd owned approximately 0.30% of Unity Software at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of U. Vanguard Group Inc. boosted its stake in shares of Unity Software by 2.8% in the third quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company's stock worth $1,383,647,000 after buying an additional 930,293 shares during the last quarter. Wellington Management Group LLP raised its position in Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock valued at $729,284,000 after acquiring an additional 6,734,285 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Unity Software by 37.8% in the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company's stock valued at $112,006,000 after acquiring an additional 1,270,798 shares during the period. Invesco Ltd. boosted its position in Unity Software by 9.0% in the 3rd quarter. Invesco Ltd. now owns 4,360,992 shares of the company's stock worth $174,614,000 after purchasing an additional 360,219 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Unity Software by 9.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company's stock worth $128,350,000 after purchasing an additional 252,648 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on U. BTIG Research cut their target price on shares of Unity Software from $41.00 to $39.00 and set a "buy" rating for the company in a report on Friday, March 27th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $37.00 price objective on shares of Unity Software in a report on Friday, March 27th. Bank of America increased their target price on shares of Unity Software from $19.00 to $21.00 and gave the stock a "neutral" rating in a research note on Friday, March 27th. Wedbush restated an "outperform" rating and set a $30.00 target price on shares of Unity Software in a research report on Friday, March 27th. Finally, Wells Fargo & Company reduced their price target on Unity Software from $38.00 to $29.00 and set an "overweight" rating for the company in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.41.

Unity Software Trading Up 6.8%

Shares of U stock opened at $25.95 on Friday. The stock's fifty day moving average is $20.87 and its two-hundred day moving average is $33.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $11.32 billion, a P/E ratio of -27.03, a PEG ratio of 8.95 and a beta of 2.00. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million during the quarter, compared to analyst estimates of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. Research analysts expect that Unity Software Inc. will post 0.13 earnings per share for the current fiscal year.

Unity Software 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.

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.