Alight Capital Management LP Cuts Position in Unity Software Inc. $U

Alight Capital Management LP cut its stake in Unity Software Inc. (NYSE:U) by 60.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 75,000 shares during the quarter. Alight Capital Management LP’s holdings in Unity Software were worth $2,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after buying an additional 45,481 shares during the last quarter. Focus Partners Wealth purchased a new position in Unity Software during the 1st quarter worth $260,000. Northwestern Mutual Wealth Management Co. grew its stake in Unity Software by 28.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock worth $134,000 after buying an additional 1,241 shares during the last quarter. California Public Employees Retirement System grew its stake in Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock worth $12,603,000 after buying an additional 53,015 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Unity Software by 1,135.6% during the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock worth $5,438,000 after buying an additional 206,529 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Stock Performance

Shares of U opened at $26.48 on Thursday. The stock has a 50-day moving average of $26.64 and a two-hundred day moving average of $30.36. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $11.56 billion, a P/E ratio of -16.87, a P/E/G ratio of 3.59 and a beta of 2.06.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on U. Wedbush boosted their target price on Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. UBS Group boosted their target price on Unity Software from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Citizens Jmp restated a “market outperform” rating and set a $37.00 target price on shares of Unity Software in a research note on Friday, March 27th. Morgan Stanley lifted their price target on Unity Software from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Finally, Bank of America lifted their price target on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.71.

Insider Activity at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 138,993 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the completion of the sale, the chief executive officer owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. The trade was a 8.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the sale, the chief financial officer owned 704,360 shares in the company, valued at $19,144,504.80. The trade was a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 198,321 shares of company stock worth $5,390,783 in the last quarter. 0.77% of the stock is owned by insiders.

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.