Alexander Blum Sells 1,964 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) COO Alexander Blum sold 1,964 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $44.81, for a total value of $88,006.84. Following the sale, the chief operating officer owned 705,411 shares of the company’s stock, valued at $31,609,466.91. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alexander Blum also recently made the following trade(s):

• On Tuesday, August 25th, Alexander Blum sold 20,595 shares of Unity Software stock. The stock was sold at an average price of $45.31, for a total value of $933,159.45.

Unity Software Trading Down 0.2%

Shares of U opened at $43.40 on Friday. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15. The stock has a 50-day moving average price of $35.17 and a 200 day moving average price of $27.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market capitalization of $19.10 billion, a P/E ratio of -31.91, a P/E/G ratio of 1.90 and a beta of 2.04.

Unity Software (NYSE:U) last posted its quarterly earnings data 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 positive return on equity of 4.64% and a negative net margin of 28.97%.The company had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. During the same period in the previous year, the business earned $0.18 EPS. Unity Software’s revenue for the quarter was up 24.0% compared to the same quarter last year. Sell-side analysts forecast that Unity Software Inc. will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP raised its position in shares of Unity Software by 194.1% during the 2nd quarter. Corient Private Wealth LP now owns 48,691 shares of the company’s stock worth $1,392,000 after purchasing an additional 32,135 shares during the period. Amundi boosted its position in Unity Software by 4.7% during the 2nd quarter. Amundi now owns 2,334,695 shares of the company’s stock valued at $66,726,000 after purchasing an additional 105,268 shares during the period. HighTower Advisors LLC boosted its position in Unity Software by 5.9% during the 2nd quarter. HighTower Advisors LLC now owns 49,198 shares of the company’s stock valued at $1,406,000 after purchasing an additional 2,762 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Unity Software during the 2nd quarter worth $600,000. Finally, California State Teachers Retirement System grew its stake in Unity Software by 2,948.2% during the 2nd quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company’s stock worth $320,180,000 after buying an additional 10,835,410 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on U shares. Citigroup lifted their price target on shares of Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wells Fargo & Company increased their price objective on shares of Unity Software from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Piper Sandler boosted their target price on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Wedbush boosted their target price on shares of Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.