Insider Selling: Unity Software (NYSE:U) Director Sells 50,000 Shares of Stock

by · The Cerbat Gem

Unity Software Inc. (NYSE:U – Get Free Report) Director Tomer Bar-Zeev sold 50,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $47.00, for a total value of $2,350,000.00. Following the transaction, the director owned 873,146 shares of the company’s stock, valued at $41,037,862. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Tomer Bar-Zeev also recently made the following trade(s):

  • On Thursday, December 11th, Tomer Bar-Zeev sold 125,000 shares of Unity Software stock. The stock was sold at an average price of $50.85, for a total value of $6,356,250.00.
  • On Monday, December 1st, Tomer Bar-Zeev sold 250,000 shares of Unity Software stock. The shares were sold at an average price of $41.93, for a total value of $10,482,500.00.
  • On Monday, November 3rd, Tomer Bar-Zeev sold 250,000 shares of Unity Software stock. The shares were sold at an average price of $37.98, for a total value of $9,495,000.00.
  • On Wednesday, October 1st, Tomer Bar-Zeev sold 250,000 shares of Unity Software stock. The stock was sold at an average price of $39.83, for a total transaction of $9,957,500.00.

Unity Software Stock Down 1.9%

Shares of U stock traded down $0.86 during trading hours on Monday, hitting $45.30. 8,069,149 shares of the company were exchanged, compared to its average volume of 11,683,000. The company has a market capitalization of $19.38 billion, a PE ratio of -43.14 and a beta of 2.04. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $52.15. The business has a 50 day moving average of $39.90 and a two-hundred day moving average of $36.00.

Unity Software (NYSE:U – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The business had revenue of $470.62 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same period in the previous year, the business posted ($0.31) EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on U. Macquarie upgraded shares of Unity Software from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $33.00 to $50.00 in a research note on Friday, November 7th. Needham & Company LLC boosted their price objective on Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Barclays raised their target price on shares of Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. BTIG Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday. Finally, UBS Group upped their price target on shares of Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Unity Software has an average rating of “Moderate Buy” and a consensus price target of $43.04.

Read Our Latest Stock Report on U

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in Unity Software during the second quarter valued at $205,000. Forum Financial Management LP acquired a new position in Unity Software during the second quarter worth approximately $256,000. Austin Wealth Management LLC bought a new position in Unity Software during the second quarter worth $208,000. PNC Financial Services Group Inc. lifted its stake in Unity Software by 148.2% during the second quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock valued at $537,000 after buying an additional 13,245 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Unity Software in the second quarter valued at $232,000. 73.46% of the stock is owned by institutional investors.

About Unity Software

(Get Free Report)

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.

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