Unity Software (NYSE:U) Shares Gap Down Following Insider Selling

Unity Software Inc. (NYSE:U) shares gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $45.57, but opened at $43.20. Unity Software shares last traded at $45.43, with a volume of 3,489,575 shares trading hands.

Specifically, Director Tomer Bar-Zeev sold 150,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $45.65, for a total value of $6,847,500.00. Following the sale, the director owned 1,798,146 shares in the company, valued at $82,085,364.90. The trade was a 7.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark Barrysmith sold 645 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $46.52, for a total transaction of $30,005.40. Following the completion of the sale, the chief accounting officer owned 453,788 shares in the company, valued at approximately $21,110,217.76. This trade represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, SVP Anirma Gupta sold 2,296 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $43.99, for a total value of $101,001.04. Following the sale, the senior vice president directly owned 628,453 shares in the company, valued at $27,645,647.47. The trade was a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

U has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Unity Software from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. BTIG Research cut shares of Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 price target for the company. in a research note on Wednesday, July 23rd. Wedbush lifted their price target on shares of Unity Software from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Barclays lifted their price target on shares of Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company lifted their price target on shares of Unity Software from $24.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.20.

Unity Software Stock Performance

The company has a market capitalization of $19.19 billion, a PE ratio of -42.85 and a beta of 2.33. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $37.46 and its 200-day simple moving average is $27.54.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The company had revenue of $440.94 million during the quarter, compared to analysts’ expectations of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. Unity Software’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. On average, research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On Unity Software

Hedge funds have recently modified their holdings of the business. CX Institutional purchased a new stake in shares of Unity Software in the 2nd quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in Unity Software during the 2nd quarter valued at approximately $28,000. Cornerstone Planning Group LLC increased its stake in Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Unity Software during the first quarter worth $28,000. Finally, Allworth Financial LP raised its holdings in shares of Unity Software by 28.4% during the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other 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.