Insider Selling: Unity Software Inc. (NYSE:U) Director Sells 50,000 Shares of Stock

Unity Software Inc. (NYSE:U - Get Free Report) Director Tomer Bar-Zeev sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $25.06, for a total value of $1,253,000.00. Following the sale, the director owned 2,348,146 shares in the company, valued at approximately $58,844,538.76. This represents a 2.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 9th, Tomer Bar-Zeev sold 9,551 shares of Unity Software stock. The shares were sold at an average price of $25.51, for a total value of $243,646.01.
• On Monday, June 2nd, Tomer Bar-Zeev sold 250,000 shares of Unity Software stock. The shares were sold at an average price of $26.39, for a total value of $6,597,500.00.
• On Wednesday, May 28th, Tomer Bar-Zeev sold 166,666 shares of Unity Software stock. The shares were sold at an average price of $25.15, for a total value of $4,191,649.90.
• On Thursday, May 1st, Tomer Bar-Zeev sold 166,667 shares of Unity Software stock. The shares were sold at an average price of $21.59, for a total value of $3,598,340.53.

Unity Software Price Performance

Shares of U traded up $0.93 during trading hours on Tuesday, hitting $28.79. 11,212,320 shares of the company were exchanged, compared to its average volume of 11,682,889. The company has a market cap of $11.97 billion, a price-to-earnings ratio of -25.71 and a beta of 2.29. Unity Software Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70. The firm's fifty day moving average is $23.33 and its 200 day moving average is $22.36.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. Unity Software's revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. On average, equities analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on U. Bank of America began coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price target on the stock. Barclays dropped their price target on Unity Software from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen lowered Unity Software from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Citigroup raised Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price objective on the stock in a report on Tuesday, March 11th. Finally, UBS Group decreased their price objective on Unity Software from $30.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

Institutional Investors Weigh In On Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Unity Software during the fourth quarter worth about $269,320,000. Atreides Management LP lifted its stake in shares of Unity Software by 146.7% in the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after acquiring an additional 5,607,572 shares during the period. Slate Path Capital LP acquired a new position in shares of Unity Software in the fourth quarter worth approximately $62,387,000. Broad Peak Investment Advisers Pte Ltd acquired a new position in shares of Unity Software in the first quarter worth approximately $47,648,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Unity Software in the first quarter worth approximately $43,265,000. 73.46% of the stock is owned by institutional investors.

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.