Unity Software (NYSE:U) COO Sells 1,964 Shares of Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 1,964 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $44.81, for a total value of $88,006.84. Following the transaction, the chief operating officer owned 705,411 shares in the company, valued at $31,609,466.91. The trade was a 0.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 Performance

Shares of U stock traded down $0.78 on Thursday, hitting $43.60. The company’s stock had a trading volume of 11,270,839 shares, compared to its average volume of 13,190,023. 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 stock’s 50 day moving average is $34.85 and its 200-day moving average is $27.63. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The company has a market capitalization of $19.19 billion, a PE ratio of -32.06, a PEG ratio of 1.94 and a beta of 2.04.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on U. Citizens Jmp boosted their price target on Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Oppenheimer lifted their price objective on Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Raymond James Financial began coverage on Unity Software in a research report on Monday, June 29th. They set a “market perform” rating for the company. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Finally, Needham & Company LLC upped their price objective on shares of Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Unity Software currently has an average rating of “Moderate Buy” and a consensus target price of $45.16.

Institutional Investors Weigh In On Unity Software

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

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.