Jarrod Yahes Sells 26,017 Shares of Unity Software (NYSE:U) Stock

Unity Software Inc. (NYSE:U) CFO Jarrod Yahes sold 26,017 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer owned 678,343 shares in the company, valued at approximately $30,735,721.33. The trade was a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Trading Down 1.9%

Shares of NYSE:U traded down $0.84 on Wednesday, hitting $44.15. 8,948,073 shares of the company’s stock were exchanged, compared to its average volume of 13,149,727. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of -32.46, a price-to-earnings-growth ratio of 1.97 and a beta of 2.04. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The business’s 50 day simple moving average is $34.18 and its two-hundred day simple moving average is $27.35.

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

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in Unity Software in the first quarter worth approximately $54,534,000. Entropy Technologies LP purchased a new stake in Unity Software during the first quarter worth $1,985,000. FengHe Fund Management Pte. Ltd. boosted its position in Unity Software by 287.0% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock valued at $76,503,000 after acquiring an additional 1,284,400 shares in the last quarter. Vanguard Group Inc. boosted its position in Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock valued at $1,570,389,000 after acquiring an additional 996,685 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Unity Software in the 4th quarter valued at $3,710,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on U. BTIG Research upped their target price on shares of Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group reiterated an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. Piper Sandler boosted their price target on Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $50.00 in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Unity Software presently has an average rating of “Moderate Buy” and an average target price 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.