Unity Software (NYSE:U) Stock: Insider Matthew Bromberg Sells 100,000 Shares

Unity Software Inc. (NYSE:U) CEO Matthew Bromberg sold 100,000 shares of the business’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $51.30, for a total transaction of $5,130,000.00. Following the completion of the sale, the chief executive officer owned 1,441,131 shares in the company, valued at approximately $73,930,020.30. The trade was a 6.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unity Software Stock Down 1.1%

U opened at $49.78 on Thursday. The company has a market capitalization of $22.09 billion, a PE ratio of -61.45, a price-to-earnings-growth ratio of 2.19 and a beta of 2.08. The firm has a 50-day simple moving average of $42.99 and a two-hundred day simple moving average of $31.97. The company has a quick ratio of 2.03, a current ratio of 2.16 and a debt-to-equity ratio of 0.52. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $54.26.

Unity Software (NYSE:U) last issued its earnings results on Thursday, November 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.41. The firm had revenue of $622.09 million for the quarter, compared to analysts’ expectations of $567.03 million. Unity Software had a positive return on equity of 9.76% and a negative net margin of 15.60%. The business’s revenue was up 32.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Analysts forecast that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

U has been the subject of a number of research reports. Jefferies Financial Group increased their target price on Unity Software from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $60.00 price target on shares of Unity Software in a research note on Thursday, November 5th. Morgan Stanley increased their price objective on shares of Unity Software from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $62.00 price objective on shares of Unity Software in a research note on Friday, November 6th. Finally, Citizens Jmp boosted their target price on shares of Unity Software from $45.00 to $70.00 and gave the stock a “market outperform” rating in a report on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.32.

More Unity Software News

Here’s some of the latest news about U:

• Positive Sentiment: Takeover speculation could provide a catalyst. Reports say a buyer consortium that may include Silver Lake and Saudi Arabia’s PIF is considering an acquisition. Early estimates put Unity’s value at about $25 billion, or roughly $55 per share, though no deal is confirmed. Takeover rumors and Unity stock
• Positive Sentiment: Recent earnings remain a favorable backdrop. Unity’s latest reported quarter beat expectations, with revenue up 32.2% year over year to $622.1 million and EPS of $0.44. Coverage also noted its first GAAP-profitable quarter since its IPO. Why Unity stock traded up
• Neutral Sentiment: The CEO’s share sale may draw attention. Matthew Bromberg sold 100,000 shares for about $5.13 million, but the transaction was made under a pre-arranged Rule 10b5-1 plan. He continues to own roughly 1.44 million shares. CEO share sale details

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund grew its holdings in Unity Software by 0.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 81,153 shares of the company’s stock valued at $3,322,000 after purchasing an additional 214 shares during the last quarter. V Square Quantitative Management LLC raised its position in Unity Software by 14.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,329 shares of the company’s stock valued at $95,000 after purchasing an additional 297 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Unity Software by 56.1% during the 3rd quarter. Fortitude Family Office LLC now owns 840 shares of the company’s stock worth $34,000 after buying an additional 302 shares in the last quarter. Elevation Wealth Partners LLC grew its position in shares of Unity Software by 15.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 2,628 shares of the company’s stock worth $108,000 after buying an additional 342 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Unity Software by 0.7% during the third quarter. Pictet Asset Management Holding SA now owns 51,640 shares of the company’s stock valued at $2,114,000 after buying an additional 346 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

Unity Software develops a platform and tools for creating and operating interactive, real-time 2D and 3D content. Its Unity Editor and engine are used by developers to build games and other digital experiences for mobile devices, computers, consoles, and extended-reality platforms. The company also provides services that support the delivery and growth of interactive applications, including tools for collaboration, analytics, advertising, and in-app monetization. Unity’s products serve customers across industries such as gaming, entertainment, automotive, and architecture.