Insider Selling: Unity Software (NYSE:U) COO Sells $88,006.84 in Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 1,964 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $44.81, for a total transaction of $88,006.84. Following the completion of the transaction, the chief operating officer directly owned 705,411 shares of the company’s stock, valued at $31,609,466.91. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alexander Blum also recently made the following trade(s):

• On Tuesday, August 25th, Alexander Blum sold 20,595 shares of Unity Software stock. The stock was sold at an average price of $45.31, for a total value of $933,159.45.

Unity Software Trading Down 0.2%

Shares of NYSE:U opened at $43.40 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. Unity Software Inc. has a 52-week low of $16.78 and a 52-week high of $52.15. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of -31.91, a PEG ratio of 1.90 and a beta of 2.04. The business has a 50-day moving average price of $35.17 and a 200-day moving average price of $27.74.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. Equities analysts predict that Unity Software Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BTIG Research lifted their price objective on Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays upped their target price on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $50.00 in a research report on Friday, August 7th. Zacks Research upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Oppenheimer lifted their target price on shares of Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Unity Software presently has a consensus rating of “Moderate Buy” and an average target price of $45.16.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in U. Vanguard Group Inc. boosted its stake in Unity Software by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after buying an additional 996,685 shares during the last quarter. 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 acquiring an additional 6,734,285 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Unity Software by 2,948.2% during the 2nd quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company’s stock worth $320,180,000 after acquiring an additional 10,835,410 shares during the period. Atreides Management LP purchased a new position in shares of Unity Software during the 2nd quarter worth $292,826,000. Finally, Geode Capital Management LLC boosted its position in shares of Unity Software by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after acquiring an additional 328,595 shares during the last quarter. Institutional investors and hedge funds own 73.46% 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.