David Helgason Sells 1,350,000 Shares of Unity Software (NYSE:U) Stock

Key Points

• David Helgason, a director at Unity Software, sold 1,350,000 shares for a total of approximately $60 million, resulting in an 18.03% reduction in his ownership stake.
• Unity Software's stock is currently seeing downward momentum, trading at $43.08 with a 52-week range of $15.33 to $46.00.
• Analysts have mixed ratings on Unity Software, with a consensus average rating of "Moderate Buy" and a target price of $31.20.

Unity Software Inc. (NYSE:U - Get Free Report) Director David Helgason sold 1,350,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the sale, the director directly owned 6,139,173 shares in the company, valued at $272,763,456.39. The trade was a 18.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Unity Software Stock Up 6.9%

U stock traded up $3.02 during midday trading on Monday, reaching $46.57. The stock had a trading volume of 11,413,538 shares, compared to its average volume of 10,988,660. Unity Software Inc. has a 52-week low of $15.33 and a 52-week high of $46.77. The company's fifty day simple moving average is $36.11 and its 200 day simple moving average is $26.99. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the business earned ($0.32) earnings per share. The firm's revenue was down 1.9% compared to the same quarter last year. Equities analysts expect that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP acquired a new stake in shares of Unity Software in the fourth quarter valued at about $306,000. Cetera Investment Advisers lifted its holdings in shares of Unity Software by 16.4% in the 4th quarter. Cetera Investment Advisers now owns 58,084 shares of the company's stock worth $1,305,000 after purchasing an additional 8,182 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Unity Software by 0.8% in the 4th quarter. Deutsche Bank AG now owns 231,673 shares of the company's stock worth $5,206,000 after purchasing an additional 1,902 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Unity Software during the 4th quarter valued at $1,505,000. Finally, Janus Henderson Group PLC raised its stake in Unity Software by 7.3% during the 4th quarter. Janus Henderson Group PLC now owns 127,649 shares of the company's stock valued at $2,870,000 after acquiring an additional 8,649 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Wall Street Analysts Forecast Growth

U has been the subject of several research reports. Wedbush lifted their target price on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America initiated coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 price objective for the company. Needham & Company LLC boosted their price objective on Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Barclays boosted their target price on Unity Software from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Unity Software currently has a consensus rating of "Moderate Buy" and an average price target of $31.20.

Unity Software Company Profile

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.