Unity Software (NYSE:U) Shares Gap Down Following Insider Selling

Unity Software Inc. (NYSE:U)’s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $28.34, but opened at $27.00. Unity Software shares last traded at $26.98, with a volume of 7,907,087 shares trading hands.

Specifically, Director Tomer Bar-Zeev sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the completion of the sale, the director now directly owns 3,398,146 shares in the company, valued at $86,448,834.24. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the sale, the chief accounting officer now owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday. Jefferies Financial Group lifted their price objective on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday. Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a research note on Friday. Wedbush restated an “outperform” rating and set a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.96.

Unity Software Stock Down 5.3 %

The firm has a market cap of $10.81 billion, a PE ratio of -16.02 and a beta of 2.32. The business’s 50 day moving average price is $22.53 and its 200 day moving average price is $21.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last released its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, equities research analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently modified their holdings of U. Anderson Financial Strategies LLC acquired a new position in Unity Software during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in Unity Software during the fourth quarter worth about $30,000. Principal Securities Inc. boosted its position in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after acquiring an additional 477 shares during the last quarter. Planning Capital Management Corp acquired a new position in Unity Software during the third quarter worth about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Unity Software during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

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.