Matthew Bromberg Sells 16,383 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) CEO Matthew Bromberg sold 16,383 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the sale, the chief executive officer owned 1,541,131 shares of the company’s stock, valued at approximately $69,828,645.61. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Performance

U stock traded down $0.84 during trading on Wednesday, reaching $44.15. 8,948,073 shares of the stock were exchanged, compared to its average volume of 13,149,727. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The company has a market capitalization of $19.43 billion, a P/E ratio of -32.46, a price-to-earnings-growth ratio of 1.97 and a beta of 2.04. The stock has a 50 day simple moving average of $34.18 and a 200-day simple moving average of $27.35. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. As a group, sell-side analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Unity Software

Several large investors have recently modified their holdings of U. Vanguard Group Inc. raised its holdings in shares of Unity Software by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after buying an additional 996,685 shares in the last quarter. Wellington Management Group LLP boosted its stake in Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after buying an additional 6,734,285 shares in the last quarter. California State Teachers Retirement System grew its position in Unity Software by 2,948.2% in the second quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company’s stock valued at $320,180,000 after acquiring an additional 10,835,410 shares during the period. Atreides Management LP bought a new stake in Unity Software in the second quarter valued at $292,826,000. Finally, Geode Capital Management LLC raised its stake in Unity Software by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after acquiring an additional 328,595 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Unity Software from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Citigroup raised their target price on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Unity Software from a “hold” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $50.00 in a research note on Friday, August 7th. Piper Sandler boosted their price target on shares of Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Raymond James Financial started coverage on shares of Unity Software in a research note on Monday, June 29th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus price target 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.