Unity Software (NYSE:U) CEO Matthew Bromberg Sells 100,000 Shares of Stock

Unity Software Inc. (NYSE:U) CEO Matthew Bromberg sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $51.30, for a total transaction of $5,130,000.00. Following the completion of the transaction, the chief executive officer owned 1,441,131 shares in the company, valued at approximately $73,930,020.30. This represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unity Software Stock Down 2.0%

U stock opened at $50.40 on Wednesday. Unity Software Inc. has a 12-month low of $16.78 and a 12-month high of $54.26. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The company has a market cap of $22.37 billion, a price-to-earnings ratio of -62.22, a PEG ratio of 2.24 and a beta of 2.08. The company has a 50 day moving average of $42.81 and a two-hundred day moving average of $31.93.

Unity Software (NYSE:U) last issued its earnings results on Thursday, November 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.41. Unity Software had a negative net margin of 15.60% and a positive return on equity of 9.89%. The company had revenue of $622.09 million during the quarter, compared to analyst estimates of $567.03 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 32.2% on a year-over-year basis. On average, equities analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Atreides Management LP acquired a new stake in shares of Unity Software in the 2nd quarter valued at $292,826,000. Resolute Advisors LLC increased its position in Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after buying an additional 3,934,840 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Unity Software by 52.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after buying an additional 1,465,962 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Unity Software by 9,886.8% during the third quarter. Assenagon Asset Management S.A. now owns 2,645,007 shares of the company’s stock valued at $108,260,000 after buying an additional 2,618,522 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Unity Software during the first quarter valued at about $54,534,000. Institutional investors own 73.46% of the company’s stock.

Key Unity Software News

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Q3 results beat expectations. Revenue rose 32.2% year over year to $622.1 million, and Unity reported $0.44 per share in profit. Coverage also highlighted its first GAAP-profitable quarter since its IPO, helping lift investor interest. Unity stock trades up: here is why
• Positive Sentiment: Analysts see further potential. Bank of America said Unity’s results reinforce the opportunity in its game-engine business and that its full gaming potential may not yet be reflected in the stock. A separate report said Unity’s price target was raised to $59. BofA on Unity’s gaming potential Unity price target raised
• Neutral Sentiment: Recent gains have been followed by a pullback. Unity had broken out and rallied after earnings, but trading coverage later noted the stock lower. The reports do not identify a specific new company development behind that move, so it may reflect near-term trading or profit-taking rather than a change in the earnings outlook. Market trading report
• Negative Sentiment: CEO Matthew Bromberg sold 100,000 shares for about $5.13 million, reducing his position by 6.49%. The sale was made under a pre-arranged Rule 10b5-1 plan, and he retained more than 1.44 million shares, which may temper concerns about the transaction. SEC Form 4 filing

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on U. Jefferies Financial Group lifted their price objective on Unity Software from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Unity Software in a research note on Monday, October 5th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a report on Monday, October 12th. Needham & Company LLC lifted their price target on Unity Software from $54.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 6th. Finally, Wedbush boosted their price target on Unity Software from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.32.

About Unity Software

Unity Software develops a platform and tools for creating and operating interactive, real-time 2D and 3D content. Its Unity Editor and engine are used by developers to build games and other digital experiences for mobile devices, computers, consoles, and extended-reality platforms. The company also provides services that support the delivery and growth of interactive applications, including tools for collaboration, analytics, advertising, and in-app monetization. Unity’s products serve customers across industries such as gaming, entertainment, automotive, and architecture.