Unity Software (NYSE:U) CFO Jarrod Yahes Sells 26,017 Shares

Unity Software Inc. (NYSE:U) CFO Jarrod Yahes sold 26,017 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the transaction, the chief financial officer directly owned 678,343 shares of the company’s stock, valued at $30,735,721.33. The trade was a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Trading Down 1.9%

NYSE U opened at $44.15 on Thursday. The stock has a market cap of $19.43 billion, a P/E ratio of -32.46, a price-to-earnings-growth ratio of 1.97 and a beta of 2.04. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The stock has a 50 day simple moving average of $34.53 and a two-hundred day simple moving average of $27.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03.

Unity Software (NYSE:U) last posted its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business’s revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Unity Software

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of Unity Software during the first quarter valued at $54,534,000. Entropy Technologies LP bought a new position in Unity Software in the 1st quarter worth about $1,985,000. FengHe Fund Management Pte. Ltd. boosted its stake in Unity Software by 287.0% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after purchasing an additional 1,284,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in Unity Software by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after purchasing an additional 996,685 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in Unity Software during the 4th quarter valued at about $3,710,000. Institutional investors own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on U shares. Citizens Jmp upped their price objective on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Raymond James Financial initiated coverage on shares of Unity Software in a research report on Monday, June 29th. They set a “market perform” rating on the stock. Benchmark raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.16.

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.