Insider Selling: Unity Software (NYSE:U) CEO Sells $742,313.73 in Stock

Unity Software Inc. (NYSE:U) CEO Matthew Bromberg sold 16,383 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the transaction, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at approximately $69,828,645.61. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Down 0.2%

Shares of Unity Software stock opened at $43.40 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The business has a 50-day moving average of $35.17 and a 200-day moving average of $27.74. The company has a market capitalization of $19.10 billion, a PE ratio of -31.91, a P/E/G ratio of 1.90 and a beta of 2.04.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The firm had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. Unity Software’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, equities analysts forecast that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Unity Software by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock valued at $1,570,389,000 after acquiring an additional 996,685 shares during the last quarter. Wellington Management Group LLP lifted its stake in Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the last quarter. California State Teachers Retirement System lifted its stake in Unity Software by 2,948.2% during the second quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company’s stock worth $320,180,000 after purchasing an additional 10,835,410 shares during the last quarter. Atreides Management LP acquired a new position in Unity Software in the second quarter worth $292,826,000. Finally, Geode Capital Management LLC boosted its holdings in Unity Software by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after purchasing an additional 328,595 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Upgrades and Downgrades

U has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Raymond James Financial started coverage on shares of Unity Software in a research note on Monday, June 29th. They set a “market perform” rating on the stock. Wedbush raised their price objective on shares of Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Company Profile

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.