Unity Software (NYSE:U) COO Sells $183,663.48 in Stock

by · The Markets Daily

Unity Software Inc. (NYSE:U – Get Free Report) COO Alexander Blum sold 10,164 shares of Unity Software stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $183,663.48. Following the completion of the transaction, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

  • On Friday, February 27th, Alexander Blum sold 2,541 shares of Unity Software stock. The stock was sold at an average price of $18.76, for a total value of $47,669.16.

Unity Software Stock Performance

NYSE:U traded down $1.45 during midday trading on Friday, reaching $18.14. The stock had a trading volume of 15,265,986 shares, compared to its average volume of 19,414,820. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.85 billion, a P/E ratio of -18.89, a P/E/G ratio of 9.97 and a beta of 2.04. The firm has a fifty day simple moving average of $35.07 and a two-hundred day simple moving average of $38.67. Unity Software Inc. has a 12-month low of $15.33 and a 12-month high of $52.15.

Unity Software (NYSE:U – Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The business had revenue of $503.09 million for the quarter, compared to the consensus estimate of $490.64 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current year.

Institutional Investors Weigh In On Unity Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after acquiring an additional 6,734,285 shares in the last quarter. Norges Bank purchased a new stake in shares of Unity Software in the second quarter valued at about $151,221,000. Slate Path Capital LP grew its position in shares of Unity Software by 25.4% in the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after purchasing an additional 4,048,484 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Unity Software during the 3rd quarter worth approximately $106,233,000. Finally, Duquesne Family Office LLC purchased a new position in shares of Unity Software during the 2nd quarter worth approximately $42,932,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

U has been the subject of a number of analyst reports. Morgan Stanley increased their target price on Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. The Goldman Sachs Group reduced their target price on Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Barclays decreased their target price on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Jefferies Financial Group increased their price target on shares of Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 5th. Finally, Macquarie Infrastructure raised shares of Unity Software from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $33.00 to $50.00 in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.52.

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Unity Software Company Profile

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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.

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