Unity Software (NYSE:U) Director Tomer Bar-Zeev Sells 250,000 Shares

Key Points

• Tomer Bar-Zeev, a director at Unity Software, sold 250,000 shares for a total of $9,957,500, decreasing his ownership in the company by 13.90%.
• Unity Software's stock price increased by 2.2% to $39.15 after trading with significant volume.
• The company's recent quarterly earnings report showed a loss of ($0.26) EPS, missing estimates, while revenue of $440.94 million exceeded expectations but was down 1.9% year-over-year.

Unity Software Inc. (NYSE:U - Get Free Report) Director Tomer Bar-Zeev sold 250,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total value of $9,957,500.00. Following the sale, the director owned 1,548,146 shares of the company's stock, valued at $61,662,655.18. This represents a 13.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 15th, Tomer Bar-Zeev sold 150,000 shares of Unity Software stock. The stock was sold at an average price of $45.65, for a total transaction of $6,847,500.00.
• On Tuesday, September 2nd, Tomer Bar-Zeev sold 150,000 shares of Unity Software stock. The stock was sold at an average price of $37.75, for a total transaction of $5,662,500.00.
• On Monday, August 4th, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The stock was sold at an average price of $33.18, for a total transaction of $1,659,000.00.
• On Friday, August 1st, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The stock was sold at an average price of $31.55, for a total transaction of $1,577,500.00.
• On Wednesday, July 16th, Tomer Bar-Zeev sold 50,000 shares of Unity Software stock. The stock was sold at an average price of $32.97, for a total transaction of $1,648,500.00.

Unity Software Stock Up 2.2%

Shares of U stock traded up $0.85 during trading hours on Thursday, hitting $39.15. 10,316,642 shares of the company were exchanged, compared to its average volume of 12,256,303. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. Unity Software Inc. has a one year low of $15.33 and a one year high of $46.94. The business's 50-day simple moving average is $39.24 and its two-hundred day simple moving average is $28.81. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of -36.93 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $425.18 million. During the same period in the previous year, the business posted ($0.32) EPS. The business's revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on U. BTIG Research cut shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price on the stock. in a report on Wednesday, July 23rd. Bank of America began coverage on shares of Unity Software in a report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price on the stock. Zacks Research cut shares of Unity Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Barclays lifted their price target on Unity Software from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, HSBC cut Unity Software from a "buy" rating to a "hold" rating and lifted their price target for the company from $37.50 to $40.80 in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Unity Software has an average rating of "Hold" and a consensus price target of $32.05.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in U. Two Sigma Advisers LP acquired a new position in shares of Unity Software during the fourth quarter valued at approximately $494,000. GAMMA Investing LLC increased its stake in shares of Unity Software by 3,279.2% during the first quarter. GAMMA Investing LLC now owns 55,283 shares of the company's stock valued at $1,083,000 after acquiring an additional 53,647 shares during the period. Rhumbline Advisers increased its stake in shares of Unity Software by 0.7% during the first quarter. Rhumbline Advisers now owns 316,933 shares of the company's stock valued at $6,209,000 after acquiring an additional 2,081 shares during the period. Merit Financial Group LLC acquired a new position in Unity Software in the first quarter worth approximately $225,000. Finally, RFG Advisory LLC acquired a new position in Unity Software in the first quarter worth approximately $305,000. Institutional investors and hedge funds own 73.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.