Insider Selling: Unity Software (NYSE:U) COO Sells $933,159.45 in Stock

Key Points

• Unity Software COO Alexander Blum sold 20,595 shares for $933,159 at an average price of $45.31, reducing his stake by 2.83%. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Unity reported quarterly revenue of $546.47 million, up 24% year over year, and adjusted earnings of $0.28 per share, beating analyst expectations. Despite a negative net margin, analysts expect full-year earnings of $0.55 per share.
• The stock traded at $43.60, while analysts maintained a “Moderate Buy” consensus with an average price target of $45.16; institutional investors own 73.46% of the company.

Unity Software Inc. (NYSE:U - Get Free Report) COO Alexander Blum sold 20,595 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $933,159.45. Following the sale, the chief operating officer owned 707,375 shares in the company, valued at approximately $32,051,161.25. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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, August 27th, Alexander Blum sold 1,964 shares of Unity Software stock. The shares were sold at an average price of $44.81, for a total value of $88,006.84.

Unity Software Price Performance

NYSE:U traded down $0.78 during mid-day trading on Thursday, reaching $43.60. The stock had a trading volume of 11,270,839 shares, compared to its average volume of 13,190,023. The stock has a market capitalization of $19.19 billion, a P/E ratio of -32.06, a P/E/G ratio of 1.94 and a beta of 2.04. The firm has a 50 day moving average price of $34.53 and a two-hundred day moving average price of $27.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software Inc. has a one year low of $16.78 and a one year high of $52.15.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million for the quarter, compared to analysts' expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The business's quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. As a group, analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on U shares. Weiss Ratings upgraded shares of Unity Software from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 4th. Citizens Jmp raised their target price on Unity Software from $37.00 to $45.00 and gave the company a "market outperform" rating in a research note on Friday, August 7th. Oppenheimer lifted their price target on Unity Software from $38.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded Unity Software from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.16.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. raised its position in shares of Unity Software by 12.9% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company's stock worth $108,000 after acquiring an additional 308 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company's stock worth $29,000 after purchasing an additional 341 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of Unity Software by 3.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company's stock worth $656,000 after acquiring an additional 449 shares during the last quarter. Captrust Financial Advisors boosted its stake in Unity Software by 2.1% in the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company's stock worth $540,000 after purchasing an additional 462 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Unity Software by 1.9% during the 4th quarter. M&T Bank Corp now owns 25,745 shares of the company's stock valued at $1,137,000 after purchasing an additional 468 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

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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