TB Alternative Assets Ltd. Buys Shares of 65,846 Unity Software Inc. $U

TB Alternative Assets Ltd. purchased a new position in Unity Software Inc. (NYSE:U) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 65,846 shares of the company’s stock, valued at approximately $2,908,000. Unity Software accounts for about 0.5% of TB Alternative Assets Ltd.’s portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Norges Bank purchased a new position in Unity Software during the second quarter valued at $151,221,000. Slate Path Capital LP grew its holdings 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 valued at $484,410,000 after purchasing an additional 4,048,484 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Unity Software during the third quarter valued at about $106,233,000. Finally, Duquesne Family Office LLC purchased a new stake in Unity Software in the second quarter worth about $42,932,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Performance

NYSE U opened at $21.97 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software Inc. has a twelve month low of $15.33 and a twelve month high of $52.15. The business has a 50-day moving average price of $23.14 and a 200-day moving average price of $35.28. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of -22.89, a price-to-earnings-growth ratio of 9.67 and a beta of 2.14.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.04. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The company had revenue of $503.09 million for the quarter, compared to the consensus estimate of $490.64 million. During the same quarter last year, the company earned ($0.30) EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

U has been the topic of several recent research reports. Citigroup decreased their price objective on Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company reduced their target price on shares of Unity Software from $38.00 to $29.00 and set an “overweight” rating for the company in a report on Friday, March 27th. The Goldman Sachs Group decreased their target price on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Morgan Stanley lifted their price target on shares of Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $37.00 price target on shares of Unity Software in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Unity Software presently has an average rating of “Moderate Buy” and a consensus price target of $37.41.

Insider Activity at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 12,196 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $220,381.72. Following the completion of the transaction, the chief financial officer owned 533,933 shares of the company’s stock, valued at $9,648,169.31. This represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Alexander Blum sold 10,164 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $183,663.48. Following the transaction, the chief operating officer owned 550,966 shares of the company’s stock, valued at approximately $9,955,955.62. The trade was a 1.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 41,684 shares of company stock valued at $773,350. Corporate insiders own 3.61% of the company’s stock.

Unity Software Company 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.