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

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 1,964 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $44.81, for a total value of $88,006.84. Following the completion of the transaction, the chief operating officer directly owned 705,411 shares of the company’s stock, valued at approximately $31,609,466.91. The trade was a 0.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 Trading Down 1.7%

NYSE U traded down $0.78 on Thursday, reaching $43.60. The company had a trading volume of 11,270,839 shares, compared to its average volume of 13,190,023. The firm has a market cap of $19.19 billion, a price-to-earnings ratio of -32.06, a P/E/G ratio of 1.94 and a beta of 2.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15. The business has a 50 day moving average of $34.85 and a two-hundred day moving average of $27.63.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Analysts forecast that Unity Software Inc. will post 0.55 EPS for the current year.

Institutional Trading of Unity Software

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Unity Software by 5.9% during the 1st 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 purchased a new position in Unity Software in the first quarter valued at approximately $260,000. Northwestern Mutual Wealth Management Co. lifted 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 purchasing an additional 1,241 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of 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 buying an additional 53,015 shares during the period. Finally, Sei Investments Co. raised its stake in shares of 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 buying an additional 206,529 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on U shares. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Benchmark raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, August 7th. Barclays raised their price target on shares of Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Raymond James Financial initiated coverage on shares of Unity Software in a report on Monday, June 29th. They set a “market perform” rating on the stock. Finally, Weiss Ratings upgraded Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Unity Software currently 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.