TB Alternative Assets Ltd. Takes $4.57 Million Position in Unity Software Inc. (NYSE:U)

TB Alternative Assets Ltd. purchased a new stake in Unity Software Inc. (NYSE:U) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 171,100 shares of the company’s stock, valued at approximately $4,568,000. Unity Software comprises approximately 1.1% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 21st largest position.

Several other large investors have also modified their holdings of the business. Polianta Ltd acquired a new position in Unity Software during the 1st quarter worth about $993,000. Nomura Holdings Inc. lifted its stake in Unity Software by 625.8% during the 4th quarter. Nomura Holdings Inc. now owns 390,184 shares of the company’s stock worth $15,955,000 after acquiring an additional 336,423 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Unity Software by 19.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,649 shares of the company’s stock worth $272,000 after acquiring an additional 1,064 shares in the last quarter. Vanguard Group Inc. lifted its stake in Unity Software by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 26,128,209 shares of the company’s stock worth $1,068,382,000 after acquiring an additional 308,412 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Unity Software by 0.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock worth $4,750,000 after acquiring an additional 440 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Stock Performance

Unity Software stock traded up $0.44 during mid-day trading on Wednesday, reaching $16.46. 5,455,850 shares of the company were exchanged, compared to its average volume of 9,679,633. Unity Software Inc. has a twelve month low of $15.23 and a twelve month high of $50.08. The firm’s 50-day simple moving average is $20.51 and its two-hundred day simple moving average is $27.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $6.43 billion, a PE ratio of -7.17 and a beta of 2.28.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.13. The business had revenue of $460.38 million during the quarter, compared to analysts’ expectations of $422.53 million. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. Equities analysts predict that Unity Software Inc. will post -1.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Friday, May 10th. Benchmark reaffirmed a “sell” rating and issued a $16.00 price target on shares of Unity Software in a research report on Friday, May 10th. Citigroup reduced their price target on Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price target on shares of Unity Software in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.79.

Insider Activity

In related news, insider Marc Whitten sold 86,768 shares of Unity Software stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the completion of the transaction, the insider now directly owns 2,483 shares of the company’s stock, valued at $51,149.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Marc Whitten sold 86,768 shares of Unity Software stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the completion of the transaction, the insider now directly owns 2,483 shares of the company’s stock, valued at $51,149.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total value of $53,160.00. Following the transaction, the chief marketing officer now directly owns 444,617 shares of the company’s stock, valued at $11,817,919.86. The disclosure for this sale can be found here. Insiders sold 247,736 shares of company stock valued at $4,885,280 in the last three months. 6.30% of the stock is currently owned by company insiders.

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.