FengHe Fund Management Pte. Ltd. Trims Stake in Unity Software Inc. (NYSE:U)

FengHe Fund Management Pte. Ltd. reduced its position in shares of Unity Software Inc. (NYSE:U) by 31.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,100 shares of the company’s stock after selling 99,300 shares during the quarter. Unity Software comprises about 1.4% of FengHe Fund Management Pte. Ltd.’s portfolio, making the stock its 12th biggest position. FengHe Fund Management Pte. Ltd. owned 0.05% of Unity Software worth $4,901,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ariose Capital Management Ltd purchased a new position in Unity Software during the 4th quarter worth $2,299,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after acquiring an additional 944,709 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Unity Software by 2,665.4% in the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after acquiring an additional 330,088 shares during the period. LMR Partners LLP purchased a new position in shares of Unity Software in the 3rd quarter valued at $611,000. Finally, Edgestream Partners L.P. increased its holdings in shares of Unity Software by 637.9% in the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after acquiring an additional 88,955 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on U shares. Wedbush reiterated an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a report on Thursday. UBS Group lifted their price target on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Morgan Stanley lifted their price target on Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Barclays raised their price objective on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Unity Software presently has a consensus rating of “Hold” and a consensus target price of $22.81.

Insiders Place Their Bets

In related news, Director David Helgason sold 7,860 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total transaction of $207,897.00. Following the sale, the director now directly owns 10,493 shares of the company’s stock, valued at $277,539.85. This trade represents a 42.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Felix The sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at $10,751,462.80. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 677,404 shares of company stock valued at $16,572,058. 6.30% of the stock is owned by company insiders.

Unity Software Stock Performance

Shares of U opened at $21.57 on Monday. The stock has a 50-day moving average of $22.73 and a two-hundred day moving average of $20.84. Unity Software Inc. has a one year low of $13.90 and a one year high of $35.56. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

About Unity Software

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.