Unity Software (NYSE:U) Stock Price Down 5.6% Following Insider Selling

Unity Software Inc. (NYSE:U) shares traded down 5.6% during trading on Friday after an insider sold shares in the company. The stock traded as low as $24.62 and last traded at $24.66. 4,804,440 shares traded hands during trading, a decline of 55% from the average session volume of 10,651,200 shares. The stock had previously closed at $26.12.

Specifically, Director David Helgason sold 7,860 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total value of $207,897.00. Following the completion of the transaction, the director now owns 10,493 shares of the company’s stock, valued at $277,539.85. This represents a 42.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Felix The sold 20,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at approximately $10,751,462.80. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on U shares. UBS Group increased their price target on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Benchmark increased their target price on Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Wedbush upped their price target on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Stifel Nicolaus increased their price objective on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Macquarie boosted their target price on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Unity Software currently has an average rating of “Hold” and an average target price of $23.35.

Unity Software Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The business has a 50-day moving average of $22.10 and a 200-day moving average of $19.01. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of -12.20 and a beta of 2.33.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after acquiring an additional 944,709 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Unity Software in the second quarter valued at approximately $2,535,000. CIBC Asset Management Inc grew its position in Unity Software by 2,665.4% during the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after buying an additional 330,088 shares in the last quarter. LMR Partners LLP acquired a new position in Unity Software in the 3rd quarter valued at $611,000. Finally, Edgestream Partners L.P. lifted its position in shares of Unity Software by 637.9% during the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after acquiring an additional 88,955 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

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.