Unity Software (NYSE:U) CEO Matthew Bromberg Sells 16,383 Shares

Key Points

• Unity CEO Matthew Bromberg sold 16,383 shares at an average price of $45.31, generating approximately $742,314. The sale covered tax-withholding obligations tied to vested equity awards and reduced his stake by 1.05%.
• Unity shares fell 1.9% to $44.15, despite the company reporting quarterly EPS of $0.28 versus an expected loss of $0.11 and revenue of $546.47 million, up 24% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $45.16; institutional investors own 73.46% of the shares.

Unity Software Inc. (NYSE:U - Get Free Report) CEO Matthew Bromberg sold 16,383 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the transaction, the chief executive officer owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. This trade represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Unity Software Stock Down 1.9%

Shares of Unity Software stock traded down $0.84 during midday trading on Wednesday, reaching $44.15. 8,948,073 shares of the company's stock traded hands, compared to its average volume of 13,149,727. 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 52 week low of $16.78 and a 52 week high of $52.15. The company's 50 day simple moving average is $34.18 and its 200 day simple moving average is $27.35. The company has a market cap of $19.43 billion, a price-to-earnings ratio of -32.46, a price-to-earnings-growth ratio of 1.97 and a beta of 2.04.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.39. The firm had revenue of $546.47 million during 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%. Unity Software's revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Equities analysts expect that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of U. Renaissance Technologies LLC acquired a new stake in shares of Unity Software in the first quarter worth $54,534,000. Entropy Technologies LP bought a new position in Unity Software during the first quarter worth $1,985,000. FengHe Fund Management Pte. Ltd. raised its stake in Unity Software by 287.0% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company's stock valued at $76,503,000 after purchasing an additional 1,284,400 shares during the last quarter. Vanguard Group Inc. raised its stake in Unity Software by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company's stock valued at $1,570,389,000 after purchasing an additional 996,685 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in Unity Software in the 4th quarter valued at $3,710,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group reiterated an "outperform" rating on shares of Unity Software in a research note on Friday, August 7th. Wedbush boosted their target price on Unity Software from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Benchmark raised Unity Software from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research report on Friday, August 7th. Citigroup increased their price target on Unity Software from $40.00 to $48.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Unity Software from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $45.16.

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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