Alexander Blum Sells 43,556 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 43,556 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the sale, the chief operating officer owned 661,855 shares of the company’s stock, valued at $28,797,311.05. The trade was a 6.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 stock was 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 Price Performance

Shares of Unity Software stock traded down $1.21 during midday trading on Tuesday, reaching $40.89. The company had a trading volume of 9,019,553 shares, compared to its average volume of 13,276,309. 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 company has a market capitalization of $18.00 billion, a price-to-earnings ratio of -30.07, a price-to-earnings-growth ratio of 1.90 and a beta of 2.04. The stock has a fifty day simple moving average of $35.47 and a 200 day simple moving average of $27.83. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15.

Unity Software (NYSE:U) last posted 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. 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 during the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter in the previous year, the company posted $0.18 EPS. Unity Software’s revenue was up 24.0% on a year-over-year basis. As a group, equities research analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On Unity Software

Several 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 stake in Unity Software by 5.9% in the first 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 bought a new position in shares of Unity Software during the 1st quarter valued at about $260,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Unity Software by 28.9% in the 2nd 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 period. California Public Employees Retirement System grew its position in shares of Unity Software by 11.3% in the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after purchasing an additional 53,015 shares during the period. Finally, Sei Investments Co. raised its holdings in Unity Software by 1,135.6% during the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock worth $5,438,000 after buying an additional 206,529 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on U. Bank of America raised Unity Software from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Barclays lifted their price objective on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Benchmark raised shares of 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. Needham & Company LLC increased their price target on Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company lifted their price objective on Unity Software from $36.00 to $48.00 and gave the stock an “overweight” 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 company’s stock. According to data from MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus price target 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.