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

Unity Software Inc. (NYSE:U) shares gapped down prior to trading on Monday after an insider sold shares in the company. 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 traded.

Specifically, Director Tomer Bar-Zeev sold 83,333 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the completion of the sale, the director now directly owns 3,398,146 shares of the company’s stock, valued at $86,448,834.24. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 1,395 shares of the firm’s stock in a transaction that occurred 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 directly owns 450,881 shares in the company, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several analysts recently weighed in on U shares. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a report on Friday, February 21st. Macquarie boosted their price target on shares of Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a research report on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Finally, HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.96.

Unity Software Price Performance

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 has a market cap of $10.34 billion, a PE ratio of -15.28 and a beta of 2.32. The stock has a 50 day moving average price of $22.60 and a two-hundred day moving average price of $21.34.

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

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ariose Capital Management Ltd purchased a new stake in shares of Unity Software in the 4th quarter valued at $2,299,000. Charles Schwab Investment Management Inc. boosted its holdings in Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after purchasing an additional 944,709 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after purchasing an additional 330,088 shares during the last quarter. LMR Partners LLP acquired a new stake in Unity Software during the 3rd quarter worth about $611,000. Finally, Edgestream Partners L.P. raised its stake in shares of Unity Software by 637.9% during the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after buying an additional 88,955 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.