Alexander Blum Sells 43,556 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 43,556 shares of Unity Software stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the transaction, the chief operating officer owned 661,855 shares of the company’s stock, valued at $28,797,311.05. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 27th, Alexander Blum sold 1,964 shares of Unity Software stock. The stock was sold at an average price of $44.81, for a total value of $88,006.84.
• On Tuesday, August 25th, Alexander Blum sold 20,595 shares of Unity Software stock. The shares were sold at an average price of $45.31, for a total value of $933,159.45.

Unity Software Stock Down 0.5%

Shares of NYSE:U opened at $40.72 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a market cap of $17.92 billion, a P/E ratio of -29.94, a P/E/G ratio of 1.79 and a beta of 2.06. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company’s 50-day moving average price is $36.01 and its two-hundred day moving average price is $28.12.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter in the previous year, the company posted $0.18 EPS. Unity Software’s revenue was up 24.0% on a year-over-year basis. As a group, research analysts forecast that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on U shares. Wells Fargo & Company boosted their price target on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $50.00 in a research report on Friday, August 7th. Citizens Jmp upped their price objective on Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Oppenheimer raised their target price on Unity Software from $38.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, UBS Group restated an “outperform” rating on shares of Unity Software in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Unity Software presently has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Unity Software by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Focus Partners Wealth bought a new stake in Unity Software in the 1st quarter valued at approximately $260,000. Northwestern Mutual Wealth Management Co. boosted its position in Unity Software by 28.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock worth $134,000 after acquiring an additional 1,241 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock worth $12,603,000 after acquiring an additional 53,015 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Unity Software by 1,135.6% in the second quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock valued at $5,438,000 after purchasing an additional 206,529 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.