Insider Selling: Unity Software (NYSE:U) Director Sells 150,000 Shares of Stock

Key Points

• Tomer Bar-Zeev, a director at Unity Software, sold 150,000 shares of company stock for a total of $5,662,500, reducing his position by 7.15% to approximately 1.95 million shares.
• Unity Software reported a loss of $0.26 per share in its last earnings release, slightly missing analysts' expectations, while the company generated $440.94 million in revenue.
• Institutional investors have shown significant activity, with 73.46% of Unity's stock now owned by hedge funds and institutions, including notable increases in holdings by Janney Montgomery Scott LLC and GAMMA Investing LLC.

Unity Software Inc. (NYSE:U - Get Free Report) Director Tomer Bar-Zeev sold 150,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $37.75, for a total transaction of $5,662,500.00. Following the transaction, the director owned 1,948,146 shares in the company, valued at $73,542,511.50. This represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, August 4th, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The shares were sold at an average price of $33.18, for a total transaction of $1,659,000.00.
• On Friday, August 1st, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The shares were sold at an average price of $31.55, for a total transaction of $1,577,500.00.
• On Wednesday, July 16th, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The stock was sold at an average price of $32.97, for a total transaction of $1,648,500.00.
• On Thursday, July 3rd, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The stock was sold at an average price of $25.06, for a total transaction of $1,253,000.00.
• On Monday, June 9th, Tomer Bar-Zeev sold 9,551 shares of Unity Software stock. The stock was sold at an average price of $25.51, for a total transaction of $243,646.01.

Unity Software Stock Performance

Shares of NYSE:U traded down $0.25 during trading on Wednesday, hitting $39.17. The company's stock had a trading volume of 4,223,138 shares, compared to its average volume of 12,356,557. The company has a 50-day moving average of $33.16 and a 200-day moving average of $25.99. Unity Software Inc. has a 12 month low of $15.33 and a 12 month high of $41.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of -36.92 and a beta of 2.33.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share 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 business had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter last year, the company earned ($0.32) EPS. Unity Software's revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts expect that Unity Software Inc. will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in shares of Unity Software by 116.2% in the first quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock valued at $570,000 after purchasing an additional 15,633 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Unity Software in the first quarter valued at $433,000. GAMMA Investing LLC grew its holdings in shares of Unity Software by 72.5% in the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock valued at $55,000 after purchasing an additional 1,186 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Unity Software in the first quarter valued at $2,215,000. Finally, Amalgamated Bank grew its holdings in shares of Unity Software by 3.0% in the first quarter. Amalgamated Bank now owns 18,132 shares of the company's stock valued at $355,000 after purchasing an additional 525 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

U has been the subject of several analyst reports. Jefferies Financial Group increased their target price on shares of Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their target price on shares of Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Bank of America initiated coverage on shares of Unity Software in a report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price for the company. Morgan Stanley increased their target price on shares of Unity Software from $25.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Stifel Nicolaus reduced their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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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