Unity Software Inc. (NYSE:U) Director Sells $5,147,500.00 in Stock

Unity Software Inc. (NYSE:U) Director David Helgason sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Unity Software Stock Up 5.2 %

Unity Software stock traded up $0.99 during midday trading on Friday, reaching $19.90. The company’s stock had a trading volume of 26,560,135 shares, compared to its average volume of 10,171,292. The business has a 50-day simple moving average of $16.44 and a 200-day simple moving average of $20.40. The company has a market cap of $7.78 billion, a P/E ratio of -8.88 and a beta of 2.25. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $43.54. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. The firm had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. Unity Software’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period last year, the business posted ($0.26) EPS. On average, research analysts expect that Unity Software Inc. will post -1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Needham & Company LLC lowered their target price on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Friday. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.82.

Institutional Investors Weigh In On Unity Software

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after acquiring an additional 208,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Unity Software by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after purchasing an additional 2,777,884 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of Unity Software by 32.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after purchasing an additional 2,787,058 shares during the period. Norges Bank bought a new position in Unity Software during the fourth quarter worth about $379,180,000. Finally, Capital Research Global Investors grew its position in Unity Software by 18.7% in the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after acquiring an additional 1,342,787 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.