Insider Selling: Unity Software (NYSE:U) CFO Sells $1,178,830.27 in Stock

Unity Software Inc. (NYSE:U) CFO Jarrod Yahes sold 26,017 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the transaction, the chief financial officer owned 678,343 shares of the company’s stock, valued at approximately $30,735,721.33. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Down 0.2%

U stock opened at $43.40 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $35.17 and a 200-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 PEG ratio of 1.90 and a beta of 2.04. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15.

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

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently modified their holdings of U. REAP Financial Group LLC acquired a new position in shares of Unity Software in the 4th quarter valued at about $28,000. Larson Financial Group LLC grew its position in shares of 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 during the last quarter. IFP Advisors Inc acquired a new stake in Unity Software during the third quarter worth about $33,000. International Assets Investment Management LLC acquired a new stake in Unity Software during the fourth quarter worth about $36,000. Finally, Cornerstone Planning Group LLC lifted its holdings 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 acquiring an additional 1,186 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on U shares. Weiss Ratings upgraded shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Benchmark upgraded Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, August 7th. Oppenheimer boosted 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. Citigroup upped their price objective on Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $50.00 in a report on Friday, August 7th. Two 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.16.

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.