Unity Software (NYSE:U) COO Alexander Blum Sells 43,556 Shares

Key Points

• Unity COO Alexander Blum sold 43,556 shares at an average price of $43.51, totaling approximately $1.90 million. The Rule 10b5-1 transaction reduced his direct holdings by 6.17% to 661,855 shares; he also sold shares in two earlier August transactions.
• Unity shares recently traded at $40.89, within a 52-week range of $16.78 to $52.15. The company reported quarterly revenue of $546.47 million and EPS of $0.28, exceeding analyst expectations, while revenue increased 24% year over year.
• Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $45.16. Institutional investors own approximately 73.46% of Unity’s outstanding shares.

Unity Software Inc. (NYSE:U - Get Free Report) COO Alexander Blum sold 43,556 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total value of $1,895,121.56. Following the sale, the chief operating officer directly owned 661,855 shares of the company's stock, valued at $28,797,311.05. The trade was a 6.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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.
• On Tuesday, August 25th, Alexander Blum sold 20,595 shares of Unity Software stock. The shares were sold at an average price of $45.31, for a total transaction of $933,159.45.

Unity Software Stock Performance

Shares of Unity Software stock traded down $1.21 on Tuesday, reaching $40.89. The stock had a trading volume of 9,019,553 shares, compared to its average volume of 13,276,309. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The business's 50-day moving average price is $35.47 and its two-hundred day moving average price is $27.83. The stock has a market cap of $18.00 billion, a P/E ratio of -30.07, a price-to-earnings-growth ratio of 1.90 and a beta of 2.04. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (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 analyst estimates 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 was up 24.0% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. On average, sell-side analysts forecast that Unity Software Inc. will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently bought and sold shares of U. REAP Financial Group LLC bought a new position in Unity Software in the 4th quarter valued at $28,000. Larson Financial Group LLC grew its holdings in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company's stock worth $29,000 after purchasing an additional 341 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of Unity Software in the third quarter valued at $33,000. International Assets Investment Management LLC acquired a new stake in shares of Unity Software in the fourth quarter valued at $36,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Unity Software by 3,953.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $49,000 after buying an additional 1,186 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on U. Barclays upped their price target on Unity Software from $28.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Wedbush raised their target price on Unity Software from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Piper Sandler boosted their price target on Unity Software from $45.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Raymond James Financial began coverage on Unity Software in a research report on Monday, June 29th. They issued a "market perform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Unity Software from a "hold" rating to a "buy" rating and increased their price objective for the stock from $31.00 to $50.00 in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.16.

About Unity Software

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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