Alexander Blum Sells 2,099 Shares of Unity Software (NYSE:U) Stock

Key Points

• Unity Software COO Alexander Blum sold 2,099 shares on May 28 at an average price of $27.37, bringing in about $57,450. The filing says the sale was made to cover tax withholding obligations tied to vested equity awards.
• Blum has been active in selling recently, including a much larger sale of 19,009 shares on May 26 and another sale of 2,541 shares in February. After the latest transaction, he still held 727,970 shares worth about $19.9 million.
• Analyst sentiment remains generally positive despite the insider selling, with Unity carrying a consensus rating of “Moderate Buy” and an average price target of $38.77. Shares also rose on the day, closing at $29.89, while several firms recently reiterated or raised targets.

Unity Software Inc. (NYSE:U - Get Free Report) COO Alexander Blum sold 2,099 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $27.37, for a total value of $57,449.63. Following the completion of the sale, the chief operating officer directly owned 727,970 shares in the company, valued at approximately $19,924,538.90. The trade was a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 Tuesday, May 26th, Alexander Blum sold 19,009 shares of Unity Software stock. The shares were sold at an average price of $27.18, for a total value of $516,664.62.
• 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 Price Performance

U stock traded up $2.13 on Thursday, reaching $29.89. The company had a trading volume of 14,147,768 shares, compared to its average volume of 10,821,225. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 1.95. The company's fifty day moving average is $24.19 and its 200 day moving average is $31.44. The company has a market cap of $13.05 billion, a P/E ratio of -19.04, a PEG ratio of 3.55 and a beta of 2.04.

Analysts Set New Price Targets

U has been the topic of a number of recent research reports. UBS Group upped their target price on Unity Software from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Citizens Jmp reiterated a "market outperform" rating and issued a $37.00 price target on shares of Unity Software in a report on Friday, March 27th. Wedbush boosted their price target on Unity Software from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Morgan Stanley boosted their price target on Unity Software from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Friday, March 27th. Finally, The Goldman Sachs Group cut their price target on Unity Software from $47.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Unity Software has a consensus rating of "Moderate Buy" and an average price target of $38.77.

More Unity Software News

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

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently made changes to their positions in U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company's stock worth $15,930,000 after buying an additional 45,481 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Unity Software during the 1st quarter worth $260,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Unity Software by 28.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company's stock worth $134,000 after buying an additional 1,241 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company's stock worth $12,603,000 after buying an additional 53,015 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Unity Software by 1,135.6% during the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company's stock worth $5,438,000 after buying an additional 206,529 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Company Profile

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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