Insider Selling: Unity Software (NYSE:U) COO Sells $1,895,121.56 in Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 43,556 shares of the firm’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 transaction, the chief operating officer owned 661,855 shares in the company, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $933,159.45.

Unity Software Stock Up 3.0%

Shares of NYSE:U opened at $41.98 on Friday. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $18.47 billion, a P/E ratio of -30.87, a P/E/G ratio of 1.79 and a beta of 2.06. The firm has a fifty day moving average price of $36.31 and a 200 day moving average price of $28.28.

Unity Software (NYSE:U) last posted its quarterly earnings data 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 negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. During the same period in the previous year, the business posted $0.18 earnings per share. Unity Software’s quarterly revenue was up 24.0% on a year-over-year basis. Sell-side analysts predict that Unity Software Inc. will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently added to or reduced their stakes in U. REAP Financial Group LLC acquired a new position in Unity Software during the 4th quarter worth approximately $28,000. Larson Financial Group LLC lifted its holdings in shares of Unity Software by 88.1% in 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 during the period. International Assets Investment Management LLC acquired a new stake in shares of Unity Software in the 4th quarter valued at approximately $36,000. IFP Advisors Inc purchased a new stake in shares of Unity Software in the third quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC grew its holdings in Unity Software by 3,953.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $49,000 after acquiring an additional 1,186 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on U shares. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, August 7th. UBS Group reiterated an “outperform” rating on shares of Unity Software in a research note on Friday, August 7th. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $50.00 in a report on Friday, August 7th. Zacks Research upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, BTIG Research increased their price target on Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus target price 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.