Unity Software (NYSE:U) CEO Sells 100,000 Shares of Stock

Unity Software Inc. (NYSE:U) CEO Matthew Bromberg sold 100,000 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $51.30, for a total transaction of $5,130,000.00. Following the completion of the transaction, the chief executive officer owned 1,441,131 shares in the company, valued at approximately $73,930,020.30. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unity Software Stock Performance

Shares of U traded down $1.03 during trading hours on Tuesday, hitting $50.40. The company had a trading volume of 12,488,747 shares, compared to its average volume of 12,811,512. The firm has a market cap of $22.18 billion, a price-to-earnings ratio of -62.22, a PEG ratio of 1.85 and a beta of 2.08. The business has a fifty day moving average of $42.64 and a 200-day moving average of $31.89. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $54.26. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U) last posted its earnings results on Thursday, November 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.41. The company had revenue of $622.09 million during the quarter, compared to analysts’ expectations of $567.03 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. Unity Software’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. Equities analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atreides Management LP bought a new position in shares of Unity Software in the 2nd quarter valued at $292,826,000. Resolute Advisors LLC boosted its holdings in shares of Unity Software by 473.3% during the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after acquiring an additional 3,934,840 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Unity Software by 9,886.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock worth $108,260,000 after acquiring an additional 2,618,522 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Unity Software during the first quarter worth about $54,534,000. Finally, Avala Global LP bought a new stake in Unity Software during the 2nd quarter worth approximately $62,522,000. 73.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on U. Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $50.00 in a research report on Friday, August 7th. Needham & Company LLC upped their target price on Unity Software from $54.00 to $70.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating on shares of Unity Software in a research note on Monday, October 5th. Raymond James Financial reissued an “outperform” rating and set a $60.00 price target on shares of Unity Software in a report on Thursday, November 5th. Finally, Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.32.

Unity Software Company Profile

Unity Software develops a platform and tools for creating and operating interactive, real-time 2D and 3D content. Its Unity Editor and engine are used by developers to build games and other digital experiences for mobile devices, computers, consoles, and extended-reality platforms. The company also provides services that support the delivery and growth of interactive applications, including tools for collaboration, analytics, advertising, and in-app monetization. Unity’s products serve customers across industries such as gaming, entertainment, automotive, and architecture.