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

Yong Rong HK Asset Management Ltd bought a new stake in Unity Software Inc. (NYSE:U) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 200,000 shares of the company’s stock, valued at approximately $8,008,000. Unity Software comprises 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 bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Unity Software in the third quarter valued at approximately $27,000. Salem Investment Counselors Inc. acquired a new position in shares of Unity Software during the 3rd quarter worth approximately $40,000. Atlantic Union Bankshares Corp bought a new stake in Unity Software in the 2nd quarter valued at $28,000. Roxbury Financial LLC bought a new stake in Unity Software in the 3rd quarter valued at $60,000. Finally, Allworth Financial LP lifted its holdings in Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after purchasing an additional 412 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on U. UBS Group upped their price objective on shares of Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Jefferies Financial Group lifted their target price on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Needham & Company LLC upped their price target on shares of Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Citigroup raised their price objective on shares of Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Unity Software Stock Performance

NYSE U opened at $29.03 on Friday. The firm has a 50-day moving average price of $43.99 and a two-hundred day moving average price of $40.25. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15. The company has a market capitalization 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 quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The company had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In related news, Director Tomer Bar-Zeev sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the director owned 873,146 shares in the company, valued at approximately $41,037,862. This trade represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jarrod Yahes sold 27,742 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the sale, the chief financial officer directly owned 546,129 shares of the company’s stock, valued at $23,368,859.91. This represents a 4.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,647,935 shares of company stock worth $75,174,498 in the last quarter. 3.61% of the stock is currently owned by corporate 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.