Unity Software (NYSE:U) Shares Gap Down Following Insider Selling

Shares of Unity Software Inc. (NYSE:U) gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $28.34, but opened at $27.00. Unity Software shares last traded at $26.98, with a volume of 7,907,087 shares changing hands.

Specifically, Director Tomer Bar-Zeev sold 83,333 shares of Unity Software stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total transaction of $2,119,991.52. Following the transaction, the director now owns 3,398,146 shares in the company, valued at approximately $86,448,834.24. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now owns 450,881 shares in the company, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

U has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a report on Thursday, February 13th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Friday. Barclays boosted their target price on shares of Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley boosted their target price on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday. Finally, Needham & Company LLC boosted their target price on shares of Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.96.

Unity Software Trading Down 2.9 %

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $22.58 and its 200 day moving average price is $21.27. The company has a market capitalization of $11.09 billion, a P/E ratio of -16.39 and a beta of 2.32.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. As a group, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On Unity Software

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Unity Software by 33.6% in the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after acquiring an additional 411 shares during the last quarter. Principal Securities Inc. boosted its stake in Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Unity Software by 3.5% in the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock valued at $324,000 after acquiring an additional 488 shares during the last quarter. Tidal Investments LLC boosted its stake in Unity Software by 4.9% in the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock valued at $349,000 after acquiring an additional 723 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Unity Software by 28.7% in the third quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock valued at $89,000 after acquiring an additional 876 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.