Unity Software (NYSE:U) COO Alexander Blum Sells 43,556 Shares

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the transaction, the chief operating officer owned 661,855 shares in the company, valued at approximately $28,797,311.05. This represents a 6.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alexander Blum also recently made the following trade(s):

• On Thursday, August 27th, Alexander Blum sold 1,964 shares of Unity Software stock. The shares were sold at an average price of $44.81, for a total transaction of $88,006.84.
• On Tuesday, August 25th, Alexander Blum sold 20,595 shares of Unity Software stock. The shares were sold at an average price of $45.31, for a total value of $933,159.45.

Unity Software Trading Down 2.9%

Unity Software stock opened at $40.89 on Wednesday. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The business’s fifty day moving average is $35.74 and its 200 day moving average is $27.97. The stock has a market capitalization of $18.00 billion, a PE ratio of -30.07, a price-to-earnings-growth ratio of 1.84 and a beta of 2.05. 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 (NYSE:U) last issued its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.Unity Software’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts predict that Unity Software Inc. will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on U shares. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, August 7th. BTIG Research upped their price target on shares of Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a “hold” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $50.00 in a report on Friday, August 7th. Wedbush boosted their price objective on shares of Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler upped their price objective on Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Unity Software has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of U. REAP Financial Group LLC purchased a new position in shares of Unity Software in the fourth quarter valued at about $28,000. Larson Financial Group LLC grew its holdings in Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Unity Software during the 4th quarter valued at approximately $36,000. IFP Advisors Inc bought a new stake in Unity Software in the 3rd quarter valued at $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in Unity Software by 3,953.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $49,000 after purchasing an additional 1,186 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

About Unity Software

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.