Unity Software (NYSE:U) Shares Down 4.7% After Insider Selling

Unity Software Inc. (NYSE:U) was down 4.7% on Monday after an insider sold shares in the company. The stock traded as low as $21.77 and last traded at $21.73. Approximately 2,842,238 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 10,923,181 shares. The stock had previously closed at $22.81.

Specifically, CAO Mark Barrysmith sold 1,414 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $21.42, for a total value of $30,287.88. Following the completion of the sale, the chief accounting officer now owns 480,408 shares in the company, valued at approximately $10,290,339.36. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

U has been the topic of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Barclays decreased their target price on Unity Software from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Citizens Jmp upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Wedbush downgraded shares of Unity Software from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, May 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.21.

Unity Software Stock Performance

The business’s 50-day simple moving average is $20.52 and its 200 day simple moving average is $22.06. The firm has a market cap of $9.01 billion, a P/E ratio of -12.89 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.19. The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Institutional Trading of Unity Software

Institutional investors and hedge funds have recently modified their holdings of the company. Avanza Fonder AB purchased a new stake in shares of Unity Software in the fourth quarter valued at $732,000. Ariose Capital Management Ltd purchased a new stake in shares of Unity Software during the 4th quarter valued at $2,299,000. Encompass More Asset Management acquired a new position in shares of Unity Software during the fourth quarter valued at about $1,501,000. SteelPeak Wealth LLC acquired a new position in shares of Unity Software in the 4th quarter valued at $221,000. Finally, R Squared Ltd acquired a new stake in shares of Unity Software during the fourth quarter worth about $30,000. 73.46% of the stock is currently owned by institutional investors.

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.