Insider Selling: Unity Software (NYSE:U) COO Sells 20,595 Shares of Stock

Unity Software Inc. (NYSE:UGet Free Report) COO Alexander Blum sold 20,595 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $933,159.45. Following the completion of the transaction, the chief operating officer owned 707,375 shares of the company’s stock, valued at $32,051,161.25. This trade represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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.

Unity Software Stock Performance

Unity Software stock traded down $0.78 during trading hours on Thursday, hitting $43.60. 11,270,839 shares of the stock traded hands, compared to its average volume of 13,190,023. The firm’s 50 day moving average price is $34.53 and its 200-day moving average price is $27.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of -32.06, a P/E/G ratio of 1.94 and a beta of 2.04. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15.

Unity Software (NYSE:UGet Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. As a group, equities analysts expect that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler increased their price objective on Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citigroup lifted their target price on Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Benchmark upgraded 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 report on Friday, August 7th. Barclays boosted their target price on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, BTIG Research raised their target price on shares of Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Check Out Our Latest Research Report on Unity Software

Hedge Funds Weigh In On Unity Software

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake 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 in the last quarter. Atreides Management LP acquired a new position in Unity Software during the 2nd quarter valued at $292,826,000. Wellington Management Group LLP lifted its stake in shares of Unity Software by 58.7% in the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after buying an additional 6,734,285 shares during the period. Norges Bank bought a new stake in shares of Unity Software during the fourth quarter valued at approximately $230,285,000. Finally, Resolute Advisors LLC boosted its position in shares of Unity Software by 473.3% during the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after acquiring an additional 3,934,840 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Unity Software (NYSE:U)

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