Yong Rong HK Asset Management Ltd Has $19.59 Million Position in Unity Software Inc. (NYSE:U)

Yong Rong HK Asset Management Ltd raised its holdings in shares of Unity Software Inc. (NYSE:U - Free Report) by 9,412.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,000,000 shares of the company's stock after purchasing an additional 989,487 shares during the period. Unity Software comprises about 4.6% of Yong Rong HK Asset Management Ltd's portfolio, making the stock its 8th largest holding. Yong Rong HK Asset Management Ltd owned approximately 0.24% of Unity Software worth $19,590,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Unity Software by 3.5% during the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company's stock worth $324,000 after buying an additional 488 shares during the period. Amalgamated Bank increased its position in Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after acquiring an additional 525 shares during the period. Bouvel Investment Partners LLC raised its stake in Unity Software by 1.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock valued at $697,000 after acquiring an additional 580 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in Unity Software by 0.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company's stock worth $3,182,000 after acquiring an additional 973 shares during the period. Finally, Jessup Wealth Management Inc boosted its position in Unity Software by 4.3% during the 1st quarter. Jessup Wealth Management Inc now owns 23,667 shares of the company's stock worth $464,000 after acquiring an additional 985 shares during the period. Institutional investors own 73.46% of the company's stock.

Unity Software Stock Performance

Shares of NYSE U opened at $26.14 on Monday. The stock's fifty day simple moving average is $23.21 and its 200 day simple moving average is $22.32. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of -23.33 and a beta of 2.29. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52-week low of $13.90 and a 52-week high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced 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 business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. Unity Software's revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, sell-side analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James M. Whitehurst sold 72,955 shares of Unity Software stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $1,549,564.20. Following the transaction, the director owned 240,311 shares in the company, valued at approximately $5,104,205.64. The trade was a 23.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew S. Bromberg sold 133,072 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 1,222,812 shares in the company, valued at $25,972,526.88. The trade was a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,127,944 shares of company stock valued at $27,166,375 over the last 90 days. 3.61% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on U. Bank of America started coverage on Unity Software in a report on Thursday, June 26th. They set an "underperform" rating and a $15.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley dropped their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wedbush upgraded shares of Unity Software to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Barclays lowered their price objective on shares of Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Unity Software presently has a consensus rating of "Moderate Buy" and an average price target of $24.47.

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.

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