Alexander Blum Sells 19,009 Shares of Unity Software (NYSE:U) Stock

Key Points

• Unity Software COO Alexander Blum sold 19,009 shares on May 26 at an average price of $27.18, totaling about $516,665. The filing said the sale was to cover tax withholding obligations tied to vested equity awards.
• Unity stock rose 7.7% to $29.89, with trading volume above its average. The company remains well below its 52-week high of $52.15, though it has gained recent momentum.
• Wall Street sentiment remains constructive, with analysts maintaining a consensus “Moderate Buy” rating and an average price target of $38.77. Hedge funds also continue to hold a large stake in the company, owning 73.46% of the stock.

Unity Software Inc. (NYSE:U - Get Free Report) COO Alexander Blum sold 19,009 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $516,664.62. Following the completion of the sale, the chief operating officer directly owned 730,069 shares of the company's stock, valued at $19,843,275.42. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alexander Blum also recently made the following trade(s):

• On Thursday, May 28th, Alexander Blum sold 2,099 shares of Unity Software stock. The shares were sold at an average price of $27.37, for a total value of $57,449.63.
• On Friday, February 27th, Alexander Blum sold 2,541 shares of Unity Software stock. The shares were sold at an average price of $18.76, for a total value of $47,669.16.

Unity Software Stock Up 7.7%

Unity Software stock traded up $2.13 during midday trading on Thursday, reaching $29.89. The stock had a trading volume of 14,147,768 shares, compared to its average volume of 10,821,225. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a market capitalization of $13.05 billion, a P/E ratio of -19.04, a PEG ratio of 3.55 and a beta of 2.04. The company has a fifty day moving average price of $24.19 and a two-hundred day moving average price of $31.44. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Unity Software by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company's stock worth $1,570,389,000 after buying an additional 996,685 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company's stock worth $729,284,000 after buying an additional 6,734,285 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company's stock worth $258,547,000 after buying an additional 328,595 shares during the last quarter. Norges Bank purchased a new position in shares of Unity Software in the 4th quarter worth approximately $230,285,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Unity Software by 37.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company's stock worth $112,006,000 after buying an additional 1,270,798 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

U has been the subject of a number of research analyst reports. Citizens Jmp reaffirmed a "market outperform" rating and issued a $37.00 target price on shares of Unity Software in a research report on Friday, March 27th. Oppenheimer raised Unity Software from a "market perform" rating to an "outperform" rating and set a $38.00 price objective for the company in a report on Tuesday, February 10th. Wedbush boosted their price objective on Unity Software from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Wells Fargo & Company boosted their price objective on Unity Software from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Finally, Citigroup decreased their price objective on Unity Software from $43.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of "Moderate Buy" and an average price target of $38.77.

Unity Software News Summary

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Analysts have been raising earnings estimates for Unity, and recent reports say the stock could still have meaningful upside from current levels. This kind of estimate momentum often supports buying interest. Earnings Estimates Moving Higher for Unity Software (U): Time to Buy?
• Positive Sentiment: Wall Street price-target coverage remains constructive, with analysts citing a sizable upside potential for Unity Software, reinforcing the bullish sentiment around the shares. Wall Street Analysts Think Unity Software (U) Could Surge 37.62%: Read This Before Placing a Bet
• Positive Sentiment: One report highlighted Unity’s AI expansion as a factor keeping the company in focus, which may be encouraging investors to view the business as a longer-term AI beneficiary. Unity AI Expansion Keeps Software Markets Watching Closely
• Neutral Sentiment: Multiple executives, including CEO Matthew S. Bromberg, CFO Jarrod Yahes, COO Alexander Blum, SVP Rebecca Berenice Boyden, and CAO Mark Barrysmith, sold shares recently. The company said the transactions were tied to tax withholding on vested equity awards, which makes the sales less alarming, but heavy insider selling can still be a mild overhang for sentiment. SEC filing for CEO sale

About Unity Software

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.

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