Insider Selling: Unity Software (NYSE:U) SVP Sells $46,770.24 in Stock

Unity Software Inc. (NYSE:U) SVP Rebecca Berenice Boyden sold 1,032 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president directly owned 308,413 shares of the company’s stock, valued at $13,977,277.16. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Performance

Shares of Unity Software stock opened at $43.40 on Friday. The firm’s fifty day simple moving average is $35.17 and its 200-day simple moving average is $27.74. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of -31.91, a PEG ratio of 1.90 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 (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. During the same quarter in the prior year, the business earned $0.18 EPS. Unity Software’s quarterly revenue was up 24.0% compared to the same quarter last year. As a group, equities analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Unity Software during the 1st quarter worth approximately $54,534,000. Entropy Technologies LP acquired a new stake in shares of Unity Software in the 1st quarter valued at approximately $1,985,000. FengHe Fund Management Pte. Ltd. boosted its stake in shares of Unity Software by 287.0% in 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 in the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $1,570,389,000 after buying an additional 996,685 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Unity Software in the fourth quarter valued at approximately $3,710,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, August 7th. Weiss Ratings upgraded Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target for the company in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.16.

Unity Software Company Profile

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.