Unity Software Inc. $U Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC boosted its holdings in shares of Unity Software Inc. (NYSE:U) by 17,917.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,330,976 shares of the company’s stock after acquiring an additional 1,323,589 shares during the period. Fred Alger Management LLC’s holdings in Unity Software were worth $58,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new position in Unity Software during the fourth quarter worth about $28,000. Larson Financial Group LLC raised its position in Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Unity Software during the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new position in Unity Software during the third quarter worth about $33,000. Finally, International Assets Investment Management LLC acquired a new position in Unity Software during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Price Performance

Unity Software stock opened at $28.07 on Wednesday. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15. The firm has a 50 day moving average price of $26.55 and a 200 day moving average price of $30.47. The company has a market cap of $12.25 billion, a price-to-earnings ratio of -17.88, a PEG ratio of 3.64 and a beta of 2.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95.

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 2,099 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $27.37, for a total value of $57,449.63. Following the completion of the sale, the chief operating officer directly owned 727,970 shares in the company, valued at approximately $19,924,538.90. The trade was a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 ownership of the stock. 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 sold 198,321 shares of company stock valued at $5,390,783 in the last quarter. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citizens Jmp restated a “market outperform” rating and set a $37.00 target price on shares of Unity Software in a research report on Friday, March 27th. Morgan Stanley lifted their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Wedbush lifted their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Barclays lifted their price target on shares of Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Unity Software 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.