Matthew Bromberg Sells 138,993 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) CEO Matthew Bromberg sold 138,993 shares of Unity Software stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the sale, the chief executive officer directly owned 1,557,514 shares in the company, valued at $42,333,230.52. The trade was a 8.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Performance

Shares of NYSE:U traded up $2.13 during trading on Thursday, hitting $29.89. 14,147,768 shares of the stock were exchanged, compared to its average volume of 10,821,225. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of -19.04, a price-to-earnings-growth ratio of 3.55 and a beta of 2.04. The company’s fifty day simple moving average is $24.19 and its 200-day simple moving average is $31.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95.

Key Stories Impacting Unity Software

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Analysts have been raising earnings estimates for Unity, and recent reports say the stock could still have meaningful upside from current levels. This kind of estimate momentum often supports buying interest. Earnings Estimates Moving Higher for Unity Software (U): Time to Buy?
• Positive Sentiment: Wall Street price-target coverage remains constructive, with analysts citing a sizable upside potential for Unity Software, reinforcing the bullish sentiment around the shares. Wall Street Analysts Think Unity Software (U) Could Surge 37.62%: Read This Before Placing a Bet
• Positive Sentiment: One report highlighted Unity’s AI expansion as a factor keeping the company in focus, which may be encouraging investors to view the business as a longer-term AI beneficiary. Unity AI Expansion Keeps Software Markets Watching Closely
• Neutral Sentiment: Multiple executives, including CEO Matthew S. Bromberg, CFO Jarrod Yahes, COO Alexander Blum, SVP Rebecca Berenice Boyden, and CAO Mark Barrysmith, sold shares recently. The company said the transactions were tied to tax withholding on vested equity awards, which makes the sales less alarming, but heavy insider selling can still be a mild overhang for sentiment. SEC filing for CEO sale

Analysts Set New Price Targets

A number of research firms have recently weighed in on U. Wells Fargo & Company boosted their target price on Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. BTIG Research lifted their price objective on Unity Software from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley lifted their price objective on Unity Software from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Needham & Company LLC lifted their price objective on Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup decreased their target price on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and an average target price of $38.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Unity Software by 5.9% in 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 valued at $15,930,000 after acquiring an additional 45,481 shares during the period. Focus Partners Wealth acquired a new position in Unity Software in the first quarter valued at about $260,000. Northwestern Mutual Wealth Management Co. grew its stake in Unity Software by 28.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock valued at $134,000 after acquiring an additional 1,241 shares during the period. California Public Employees Retirement System grew its stake in Unity Software by 11.3% in the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after acquiring an additional 53,015 shares during the period. Finally, Sei Investments Co. grew its stake in Unity Software by 1,135.6% in the second quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock valued at $5,438,000 after acquiring an additional 206,529 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

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.