Unity Software (NYSE:U) Stock Price Down 4.7% After Insider Selling

Unity Software Inc. (NYSE:U)’s share price was down 4.7% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $21.77 and last traded at $21.73. Approximately 2,842,238 shares were traded during trading, a decline of 74% from the average daily volume of 10,923,181 shares. The stock had previously closed at $22.81.

Specifically, CAO Mark Barrysmith sold 1,414 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $21.42, for a total transaction of $30,287.88. Following the sale, the chief accounting officer now directly owns 480,408 shares of the company’s stock, valued at approximately $10,290,339.36. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on U. Stifel Nicolaus dropped their price objective on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Morgan Stanley decreased their price objective on Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Jefferies Financial Group lowered their target price on Unity Software from $24.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, April 7th. Finally, HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.21.

Unity Software Price Performance

The company’s 50-day simple moving average is $20.53 and its 200 day simple moving average is $22.07. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of -13.24 and a beta of 2.29.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. Equities research analysts forecast that Unity Software Inc. will post -1.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bayforest Capital Ltd lifted its holdings in shares of Unity Software by 175.5% during the 1st quarter. Bayforest Capital Ltd now owns 6,045 shares of the company’s stock worth $118,000 after acquiring an additional 3,851 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Unity Software by 5.9% during 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 worth $15,930,000 after buying an additional 45,481 shares in the last quarter. Sender Co & Partners Inc. bought a new position in shares of Unity Software in the first quarter valued at approximately $2,042,000. Rip Road Capital Partners LP boosted its holdings in shares of Unity Software by 23.0% in the 1st quarter. Rip Road Capital Partners LP now owns 123,000 shares of the company’s stock worth $2,410,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Unity Software by 12.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 37,959 shares of the company’s stock worth $744,000 after acquiring an additional 4,155 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

About Unity Software

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.