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

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 Unity Software stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.43, for a total value of $59,980,500.00. Following the completion of the transaction, the director owned 6,139,173 shares in the company, valued at approximately $272,763,456.39. This represents a 18.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Unity Software Price Performance

Unity Software stock traded down $2.42 during midday trading on Wednesday, reaching $43.08. The company's stock had a trading volume of 10,557,649 shares, compared to its average volume of 12,392,128. Unity Software Inc. has a 52 week low of $15.33 and a 52 week high of $46.00. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $35.04 and a 200-day moving average price of $26.63. The stock has a market cap of $18.20 billion, a PE ratio of -40.65 and a beta of 2.33.

Unity Software (NYSE:U - Get Free Report) last released 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 net margin of 24.38% and a negative return on equity of 13.59%. The business had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the prior year, the firm earned ($0.32) EPS. The business's revenue was down 1.9% on a year-over-year basis. On average, sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on U. Bank of America began coverage on Unity Software in a research note on Thursday, June 26th. They set an "underperform" rating and a $15.00 price target on the stock. UBS Group lifted their price target on Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Zacks Research lowered Unity Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. JMP Securities lifted their price target on Unity Software from $30.00 to $35.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. 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 company. According to MarketBeat, Unity Software presently has an average rating of "Moderate Buy" and an average price target of $31.20.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently added to or reduced their stakes in U. Cornerstone Planning Group LLC lifted its stake in Unity Software by 30,300.0% in the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after buying an additional 1,212 shares during the period. CX Institutional bought a new stake in shares of Unity Software during the second quarter valued at approximately $25,000. Banque Transatlantique SA bought a new stake in shares of Unity Software during the first quarter valued at approximately $28,000. Atlantic Union Bankshares Corp bought a new stake in shares of Unity Software during the second quarter valued at approximately $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Unity Software during the fourth quarter valued at approximately $36,000. 73.46% of the stock is owned by institutional investors and hedge funds.

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.

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