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

Unity Software Inc. (NYSE:U) gapped down prior to trading 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 the stock in a transaction dated 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 completion of the transaction, the director now owns 3,398,146 shares of the company’s stock, valued at $86,448,834.24. This represents a 2.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at $9,775,100.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

U has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday. Wedbush reissued an “outperform” rating and issued a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. UBS Group increased their price objective on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC increased their price objective on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.96.

Unity Software Trading Down 5.3 %

The firm has a market capitalization of $10.81 billion, a PE ratio of -16.02 and a beta of 2.32. The stock’s 50-day moving average price is $22.53 and its 200 day moving average price is $21.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

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, beating the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Unity Software

Institutional investors have recently bought and sold shares of the business. Anderson Financial Strategies LLC purchased a new position in Unity Software during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in Unity Software during the fourth quarter valued at approximately $30,000. Principal Securities Inc. increased its holdings in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after buying an additional 477 shares during the period. Planning Capital Management Corp acquired a new stake in Unity Software in the third quarter valued at approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Unity Software in the fourth quarter valued at approximately $36,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.