Unity Software (NYSE:U) Trading Down 3.5% After Insider Selling

Unity Software Inc. (NYSE:U)’s share price traded down 3.5% during trading on Friday after an insider sold shares in the company. The stock traded as low as $23.51 and last traded at $23.64. 4,791,563 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 18,710,945 shares. The stock had previously closed at $24.51.

Specifically, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the completion of the sale, the director now owns 3,648,146 shares in the company, valued at $91,276,612.92. The trade was a 6.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Macquarie increased their price target on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Wells Fargo & Company assumed coverage on Unity Software in a research report on Monday, October 28th. They set an “equal weight” rating and a $20.00 price objective for the company. Wedbush increased their target price on Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, UBS Group boosted their price target on shares of Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.21.

Unity Software Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $9.70 billion, a P/E ratio of -11.81 and a beta of 2.33. The firm’s fifty day moving average price is $22.74 and its 200-day moving average price is $19.63.

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares during the last quarter. Magnetar Financial LLC bought a new stake in Unity Software during the second quarter worth approximately $2,535,000. CIBC Asset Management Inc grew its position in Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after buying an additional 330,088 shares during the last quarter. LMR Partners LLP bought a new position in shares of Unity Software in the third quarter valued at $611,000. Finally, Edgestream Partners L.P. lifted its position in shares of Unity Software by 637.9% during the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after acquiring an additional 88,955 shares during the last quarter. 73.46% of the stock is 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.