Alexander Blum Sells 20,595 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 20,595 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $933,159.45. Following the sale, the chief operating officer directly owned 707,375 shares of the company’s stock, valued at approximately $32,051,161.25. The trade was a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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.

Unity Software Price Performance

U stock opened at $43.40 on Friday. Unity Software Inc. has a 52-week low of $16.78 and a 52-week high of $52.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The business has a 50-day simple moving average of $35.17 and a two-hundred day simple moving average of $27.74. The company has a market capitalization of $19.10 billion, a P/E ratio of -31.91, a price-to-earnings-growth ratio of 1.90 and a beta of 2.04.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. The company had revenue of $546.47 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Research analysts expect that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

U has been the subject of several analyst reports. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 target price for the company in a report on Friday, August 7th. Wedbush increased their price target on Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Citigroup lifted their price target on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Piper Sandler upped their price objective on Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Citizens Jmp lifted their target price on Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and an average target price of $45.16.

Institutional Investors Weigh In On Unity Software

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