Unity Software Inc. (NYSE:U) CMO Sells $48,360.00 in Stock

Unity Software Inc. (NYSE:U) CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $24.18, for a total value of $48,360.00. Following the completion of the transaction, the chief marketing officer now directly owns 442,617 shares of the company’s stock, valued at $10,702,479.06. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Unity Software Price Performance

Shares of NYSE:U opened at $24.74 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60. The stock’s fifty day simple moving average is $26.08 and its two-hundred day simple moving average is $30.25. Unity Software Inc. has a 1-year low of $22.20 and a 1-year high of $50.08.

Unity Software (NYSE:U) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The firm had revenue of $609.27 million for the quarter, compared to analysts’ expectations of $551.01 million. During the same quarter last year, the firm posted ($0.50) earnings per share. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. Research analysts expect that Unity Software Inc. will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Unity Software

Institutional investors have recently modified their holdings of the business. BluePath Capital Management LLC increased its holdings in Unity Software by 6.7% during the fourth quarter. BluePath Capital Management LLC now owns 5,453 shares of the company’s stock worth $223,000 after buying an additional 342 shares during the last quarter. Kovack Advisors Inc. raised its holdings in shares of Unity Software by 1.5% in the 4th quarter. Kovack Advisors Inc. now owns 26,411 shares of the company’s stock worth $1,080,000 after purchasing an additional 380 shares during the period. Natixis Advisors L.P. lifted its stake in Unity Software by 3.2% in the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after purchasing an additional 407 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Unity Software by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 17,602 shares of the company’s stock valued at $553,000 after purchasing an additional 433 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Unity Software by 0.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock valued at $4,750,000 after purchasing an additional 440 shares during the period. 73.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on U shares. Piper Sandler upgraded Unity Software from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $30.00 in a report on Tuesday, February 27th. Needham & Company LLC lowered their price objective on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Stifel Nicolaus increased their target price on shares of Unity Software from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Finally, William Blair restated an “outperform” rating on shares of Unity Software in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.03.

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.