Jarrod Yahes Sells 24,021 Shares of Unity Software (NYSE:U) Stock

Key Points

• CFO Jarrod Yahes sold 24,021 shares of Unity Software at an average price of $27.18, totaling about $652,891. The filing said the sale was to cover tax withholding obligations tied to vested equity awards.
• After the transaction, Yahes still owned 704,360 shares valued at roughly $19.1 million, and the sale represented a 3.3% reduction in his stake. He also previously sold 6,205 shares in March.
• Unity Software shares rose 7.7% to $29.89, while analysts remained generally constructive with a “Moderate Buy” consensus and an average price target of $38.77. Recent research firms, including Wells Fargo, Wedbush and Morgan Stanley, also raised their targets.

Unity Software Inc. (NYSE:U - Get Free Report) CFO Jarrod Yahes sold 24,021 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $652,890.78. Following the completion of the sale, the chief financial officer directly owned 704,360 shares in the company, valued at approximately $19,144,504.80. This trade represents a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jarrod Yahes also recently made the following trade(s):

• On Thursday, March 5th, Jarrod Yahes sold 6,205 shares of Unity Software stock. The shares were sold at an average price of $21.03, for a total transaction of $130,491.15.

Unity Software Stock Up 7.7%

NYSE:U traded up $2.13 during mid-day trading on Thursday, hitting $29.89. The stock had a trading volume of 14,147,768 shares, compared to its average volume of 10,821,225. The stock has a 50-day simple moving average of $24.19 and a two-hundred day simple moving average of $31.44. The company has a market capitalization of $13.05 billion, a PE ratio of -19.04, a PEG ratio of 3.55 and a beta of 2.04. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.

Analysts Set New Price Targets

U has been the topic of a number of analyst reports. Wells Fargo & Company raised their price target on Unity Software from $29.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Wedbush raised their price target on Unity Software from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Morgan Stanley raised their price target on Unity Software from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Friday, March 27th. Benchmark restated a "hold" rating on shares of Unity Software in a research note on Monday, February 2nd. Finally, Wall Street Zen cut Unity Software from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $38.77.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. increased its position in shares of Unity Software by 12.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company's stock worth $108,000 after purchasing an additional 308 shares in the last quarter. Xponance Inc. increased its holdings in shares of Unity Software by 1.8% in the 3rd quarter. Xponance Inc. now owns 18,291 shares of the company's stock valued at $732,000 after acquiring an additional 328 shares during the period. Larson Financial Group LLC increased its holdings 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 valued at $29,000 after acquiring an additional 341 shares during the period. Swiss Life Asset Management Ltd increased its holdings in shares of Unity Software by 3.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company's stock valued at $656,000 after acquiring an additional 449 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of Unity Software by 2.1% in the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company's stock valued at $540,000 after acquiring an additional 462 shares during the period. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software News Roundup

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Analysts have been raising earnings estimates for Unity, and recent reports say the stock could still have meaningful upside from current levels. This kind of estimate momentum often supports buying interest. Earnings Estimates Moving Higher for Unity Software (U): Time to Buy?
• Positive Sentiment: Wall Street price-target coverage remains constructive, with analysts citing a sizable upside potential for Unity Software, reinforcing the bullish sentiment around the shares. Wall Street Analysts Think Unity Software (U) Could Surge 37.62%: Read This Before Placing a Bet
• Positive Sentiment: One report highlighted Unity’s AI expansion as a factor keeping the company in focus, which may be encouraging investors to view the business as a longer-term AI beneficiary. Unity AI Expansion Keeps Software Markets Watching Closely
• Neutral Sentiment: Multiple executives, including CEO Matthew S. Bromberg, CFO Jarrod Yahes, COO Alexander Blum, SVP Rebecca Berenice Boyden, and CAO Mark Barrysmith, sold shares recently. The company said the transactions were tied to tax withholding on vested equity awards, which makes the sales less alarming, but heavy insider selling can still be a mild overhang for sentiment. SEC filing for CEO sale

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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