Yong Rong HK Asset Management Ltd Takes $8.01 Million Position in Unity Software Inc. $U

Yong Rong HK Asset Management Ltd bought a new stake in Unity Software Inc. (NYSE:U) during the third quarter, HoldingsChannel.com reports. The firm bought 200,000 shares of the company’s stock, valued at approximately $8,008,000. Unity Software comprises about 2.2% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Unity Software during the 2nd quarter worth $151,221,000. Slate Path Capital LP raised its stake in Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after buying an additional 4,048,484 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Unity Software in the 3rd quarter worth about $106,233,000. Duquesne Family Office LLC bought a new stake in Unity Software in the second quarter worth approximately $42,932,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Unity Software by 37.8% in the 2nd 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 in the last quarter. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on U shares. Needham & Company LLC boosted their target price on Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Piper Sandler raised shares of Unity Software from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $43.00 to $59.00 in a report on Thursday, December 11th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Citigroup boosted their price target on shares of Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, UBS Group lifted their price target on shares of Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.27.

Insider Buying and Selling at Unity Software

In other news, COO Alexander Blum sold 1,988 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $42.47, for a total value of $84,430.36. Following the completion of the transaction, the chief operating officer directly owned 561,130 shares in the company, valued at approximately $23,831,191.10. This represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tomer Bar-Zeev sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $47.00, for a total value of $2,350,000.00. Following the completion of the sale, the director directly owned 873,146 shares of the company’s stock, valued at approximately $41,037,862. This represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,647,935 shares of company stock valued at $75,174,498 over the last quarter. Company insiders own 3.61% of the company’s stock.

Unity Software Price Performance

Shares of NYSE:U opened at $29.03 on Friday. The company has a 50 day moving average of $43.99 and a 200 day moving average of $40.25. The stock has a market cap of $12.42 billion, a P/E ratio of -27.65, a P/E/G ratio of 40.25 and a beta of 2.04. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $52.15.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. During the same quarter last year, the business posted ($0.31) earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Unity Software Inc. will post -1.25 EPS 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.