Unity Software (NYSE:U) CFO Jarrod Yahes Sells 26,017 Shares

Unity Software Inc. (NYSE:U) CFO Jarrod Yahes sold 26,017 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the transaction, the chief financial officer directly owned 678,343 shares in the company, valued at $30,735,721.33. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Performance

Shares of U stock traded down $0.84 during trading hours on Wednesday, reaching $44.15. 8,948,073 shares of the company traded hands, compared to its average volume of 13,149,727. The firm has a 50-day moving average price of $34.18 and a 200 day moving average price of $27.35. The company has a market cap of $19.43 billion, a P/E ratio of -32.46, a P/E/G ratio of 1.97 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 12-month low of $16.78 and a 12-month high of $52.15.

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

Institutional Trading of Unity Software

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Unity Software in the first quarter worth about $54,534,000. Entropy Technologies LP bought a new position in shares of Unity Software during the first quarter valued at approximately $1,985,000. FengHe Fund Management Pte. Ltd. grew its stake in shares of Unity Software by 287.0% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock valued at $76,503,000 after buying an additional 1,284,400 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Unity Software by 2.9% in the fourth 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 during the period. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Unity Software in the fourth quarter worth approximately $3,710,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

U has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Needham & Company LLC increased their price target on Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BTIG Research raised their price target on Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 6th. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target on the stock in a report on Friday, August 7th. Finally, Weiss Ratings raised Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Unity Software 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.