Alexander Blum Sells 2,582 Shares of Unity Software Inc. (NYSE:U) Stock

Key Points

• Alexander Blum, COO of Unity Software, sold 2,582 shares at an average price of $32.99, reducing his ownership by 0.36% while still holding 716,926 shares worth approximately $23.65 million.
• Unity Software recently reported earnings per share of ($0.26), missing expectations, but generated revenue of $440.94 million, exceeding analyst predictions of $425.18 million.
• Analysts have raised their ratings for Unity Software, with multiple firms increasing their target prices, reflecting a consensus rating of "Moderate Buy" and an average target price of $31.20.

Unity Software Inc. (NYSE:U - Get Free Report) COO Alexander Blum sold 2,582 shares of Unity Software stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $32.99, for a total value of $85,180.18. Following the completion of the sale, the chief operating officer owned 716,926 shares of the company's stock, valued at approximately $23,651,388.74. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, May 27th, Alexander Blum sold 1,140 shares of Unity Software stock. The stock was sold at an average price of $21.24, for a total transaction of $24,213.60.

Unity Software Price Performance

Unity Software stock traded down $0.08 during mid-day trading on Monday, hitting $33.17. 8,732,527 shares of the company traded hands, compared to its average volume of 12,414,959. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. Unity Software Inc. has a one year low of $14.89 and a one year high of $38.96. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of -31.29 and a beta of 2.32. The stock has a fifty day moving average price of $28.50 and a 200-day moving average price of $24.02.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%. The company had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same quarter last year, the firm posted ($0.32) earnings per share. The firm's revenue was down 1.9% on a year-over-year basis. On average, equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Trading of Unity Software

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company's stock worth $45,000 after purchasing an additional 412 shares during the period. Farther Finance Advisors LLC raised its stake in Unity Software by 4.4% in the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company's stock worth $261,000 after buying an additional 454 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in Unity Software by 11.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 5,116 shares of the company's stock worth $124,000 after buying an additional 510 shares during the period. Amalgamated Bank boosted its position in Unity Software by 3.0% during the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after acquiring an additional 525 shares in the last quarter. Finally, Bouvel Investment Partners LLC boosted its position in Unity Software by 1.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company's stock valued at $697,000 after acquiring an additional 580 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Unity Software from a "hold" rating to a "buy" rating in a research report on Saturday. JMP Securities lifted their target price on Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Thursday. Jefferies Financial Group raised their target price on Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Citigroup lifted their price objective on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Stifel Nicolaus dropped their target price on Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

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.

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