Point72 Asia Singapore Pte. Ltd. Takes $36,000 Position in Unity Software Inc. (NYSE:U)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Unity Software Inc. (NYSE:U) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,606 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rip Road Capital Partners LP acquired a new stake in shares of Unity Software during the fourth quarter worth $2,247,000. Quantinno Capital Management LP grew its stake in shares of Unity Software by 91.0% during the fourth quarter. Quantinno Capital Management LP now owns 379,768 shares of the company’s stock worth $8,533,000 after purchasing an additional 180,958 shares during the period. Malaga Cove Capital LLC acquired a new stake in shares of Unity Software during the fourth quarter worth $266,000. Man Group plc acquired a new stake in shares of Unity Software during the fourth quarter worth $14,648,000. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Unity Software by 11.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 33,804 shares of the company’s stock worth $772,000 after purchasing an additional 3,340 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Mark Barrysmith sold 1,414 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $21.42, for a total transaction of $30,287.88. Following the sale, the chief accounting officer now owns 480,408 shares in the company, valued at approximately $10,290,339.36. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 83,333 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $25.44, for a total value of $2,119,991.52. Following the sale, the director now owns 3,398,146 shares in the company, valued at $86,448,834.24. The trade was a 2.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 781,785 shares of company stock worth $18,023,491. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

U has been the subject of a number of analyst reports. UBS Group decreased their price objective on Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays decreased their price objective on Unity Software from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Morgan Stanley reduced their target price on Unity Software from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Wedbush lowered Unity Software from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC reduced their target price on Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.21.

Unity Software Stock Performance

Shares of Unity Software stock opened at $22.25 on Tuesday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of -13.24 and a beta of 2.29. The stock’s 50-day moving average is $20.53 and its 200-day moving average is $22.07. Unity Software Inc. has a one year low of $13.90 and a one year high of $30.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. Equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Unity Software Company 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.