Unity Software (NYSE:U) Director Sells $9,495,000.00 in Stock

Unity Software Inc. (NYSE:U) Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $37.98, for a total value of $9,495,000.00. Following the transaction, the director directly owned 1,298,146 shares in the company, valued at approximately $49,303,585.08. The trade was a 16.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tomer Bar-Zeev also recently made the following trade(s):

• On Wednesday, October 1st, Tomer Bar-Zeev sold 250,000 shares of Unity Software stock. The shares were sold at an average price of $39.83, for a total value of $9,957,500.00.
• On Monday, September 15th, Tomer Bar-Zeev sold 150,000 shares of Unity Software stock. The shares were sold at an average price of $45.65, for a total transaction of $6,847,500.00.
• On Tuesday, September 2nd, Tomer Bar-Zeev sold 150,000 shares of Unity Software stock. The stock was sold at an average price of $37.75, for a total value of $5,662,500.00.

Unity Software Price Performance

Unity Software stock traded down $1.62 during mid-day trading on Tuesday, hitting $35.93. The stock had a trading volume of 13,128,950 shares, compared to its average volume of 8,755,162. The firm’s 50 day moving average is $39.96 and its 200 day moving average is $31.88. The firm has a market capitalization of $15.18 billion, a P/E ratio of -33.90 and a beta of 2.37. Unity Software Inc. has a one year low of $15.33 and a one year high of $46.94. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.Unity Software’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.32) EPS. On average, sell-side analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

U has been the topic of a number of research reports. Arete Research raised Unity Software to a “hold” rating in a research note on Thursday, October 16th. The Goldman Sachs Group assumed coverage on shares of Unity Software in a research report on Wednesday, October 15th. They issued a “neutral” rating and a $38.00 price target on the stock. JMP Securities increased their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on shares of Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, HSBC downgraded shares of Unity Software from a “buy” rating to a “hold” rating and increased their price target for the company from $37.50 to $40.80 in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.10.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock valued at $645,775,000 after purchasing an additional 1,841,486 shares during the period. Slate Path Capital LP boosted its position in Unity Software by 25.4% during the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after acquiring an additional 4,048,484 shares during the period. Atreides Management LP boosted its position in Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after acquiring an additional 5,607,572 shares during the period. Norges Bank acquired a new stake in Unity Software in the second quarter worth about $151,221,000. Finally, Geode Capital Management LLC lifted its holdings in Unity Software by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock worth $122,587,000 after purchasing an additional 36,105 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

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.