Unity Software (NYSE:U) Stock: Insider Matthew Bromberg Sells 100,000 Shares

Key Points

• CEO Matthew Bromberg sold 100,000 Unity shares for $5.13 million under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 6.49% to 1,441,131 shares.
• Unity reported quarterly EPS of $0.44, beating the $0.03 consensus, while revenue of $622.09 million exceeded estimates and rose 32.2% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $56.32; shares were down 2% to $50.40 in Tuesday trading.

Unity Software Inc. (NYSE:U - Get Free Report) CEO Matthew Bromberg sold 100,000 shares of the business's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $51.30, for a total value of $5,130,000.00. Following the completion of the sale, the chief executive officer owned 1,441,131 shares in the company, valued at approximately $73,930,020.30. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unity Software Stock Down 2.0%

Shares of U stock traded down $1.03 on Tuesday, hitting $50.40. 12,488,747 shares of the stock were exchanged, compared to its average volume of 12,811,512. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $22.18 billion, a P/E ratio of -62.22, a price-to-earnings-growth ratio of 1.85 and a beta of 2.08. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $54.26. The business has a 50-day moving average of $42.64 and a 200 day moving average of $31.89.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.41. The business had revenue of $622.09 million for the quarter, compared to analyst estimates of $567.03 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. Unity Software's revenue for the quarter was up 32.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. Equities analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

U has been the topic of a number of research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $62.00 price objective on shares of Unity Software in a research report on Friday. Jefferies Financial Group raised their target price on shares of Unity Software from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, October 8th. Citigroup lifted their price target on shares of Unity Software from $48.00 to $59.00 and gave the company a "buy" rating in a research note on Friday. Piper Sandler reiterated an "overweight" rating on shares of Unity Software in a research note on Monday, October 5th. Finally, UBS Group reissued an "outperform" rating on shares of Unity Software in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $56.32.

Hedge Funds Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC raised its stake in Unity Software by 354.7% in the third quarter. Global Retirement Partners LLC now owns 8,984 shares of the company's stock valued at $368,000 after buying an additional 7,008 shares during the period. Rothschild Investment LLC boosted its stake in shares of Unity Software by 56.8% during the 3rd quarter. Rothschild Investment LLC now owns 54,865 shares of the company's stock worth $2,246,000 after acquiring an additional 19,865 shares during the period. Cibc World Market Inc. boosted its stake in shares of Unity Software by 38.3% during the 3rd quarter. Cibc World Market Inc. now owns 17,198 shares of the company's stock worth $704,000 after acquiring an additional 4,765 shares during the period. Edgestream Partners L.P. bought a new position in shares of Unity Software during the 3rd quarter worth approximately $4,132,000. Finally, Quantedge Capital Pte Ltd acquired a new position in shares of Unity Software during the 3rd quarter worth approximately $1,203,000. Institutional investors own 73.46% of the company's stock.

About Unity Software

Unity Software develops a platform and tools for creating and operating interactive, real-time 2D and 3D content. Its Unity Editor and engine are used by developers to build games and other digital experiences for mobile devices, computers, consoles, and extended-reality platforms. The company also provides services that support the delivery and growth of interactive applications, including tools for collaboration, analytics, advertising, and in-app monetization. Unity's products serve customers across industries such as gaming, entertainment, automotive, and architecture.

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