CloudAlpha Capital Management Limited Hong Kong Buys Shares of 222,010 Unity Software Inc. (NYSE:U)

CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Unity Software Inc. (NYSE:U) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 222,010 shares of the company’s stock, valued at approximately $5,022,000. Unity Software makes up approximately 0.3% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 22nd biggest position. CloudAlpha Capital Management Limited Hong Kong owned about 0.06% of Unity Software as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in U. Magnetar Financial LLC purchased a new stake in shares of Unity Software during the second quarter worth approximately $2,535,000. Vanguard Group Inc. increased its stake in shares of Unity Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after buying an additional 208,566 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Unity Software by 187.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock worth $9,440,000 after buying an additional 230,696 shares during the period. Creative Planning increased its stake in shares of Unity Software by 111.7% during the second quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after buying an additional 71,325 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in shares of Unity Software during the first quarter worth approximately $2,747,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group dropped their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Wedbush lifted their price objective on Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Needham & Company LLC lifted their price objective on Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.35.

Unity Software Price Performance

Shares of U opened at $19.12 on Thursday. The company has a market cap of $7.70 billion, a P/E ratio of -9.37 and a beta of 2.29. The stock has a fifty day moving average price of $20.61 and a 200 day moving average price of $18.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.36. Unity Software Inc. has a 12 month low of $13.90 and a 12 month high of $43.54.

Insider Activity

In related news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Unity Software news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 281,600 shares of company stock worth $5,714,000 over the last 90 days. 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.