Unity Software (NYSE:U) Shares Gap Down Following Insider Selling

Unity Software Inc. (NYSE:U - Get Free Report)'s share price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $26.08, but opened at $25.55. Unity Software shares last traded at $26.35, with a volume of 3,698,232 shares changing hands.

Specifically, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the completion of the sale, the director now directly owns 2,398,146 shares in the company, valued at $63,287,072.94. This represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew S. Bromberg sold 133,072 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $2,826,449.28. Following the completion of the transaction, the chief executive officer now directly owns 1,222,812 shares in the company, valued at $25,972,526.88. This represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Unity Software news, CAO Mark Barrysmith sold 13,757 shares of Unity Software stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $21.23, for a total value of $292,061.11. Following the completion of the sale, the chief accounting officer now directly owns 466,651 shares of the company's stock, valued at approximately $9,907,000.73. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

U has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC cut their price target on Unity Software from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Macquarie started coverage on Unity Software in a research report on Monday, March 10th. They set a "neutral" rating and a $24.00 target price on the stock. Citizens Jmp upgraded shares of Unity Software from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus lowered their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $25.14.

Unity Software Price Performance

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The business's fifty day moving average is $21.00 and its 200 day moving average is $22.32. The company has a market cap of $10.85 billion, a P/E ratio of -15.54 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.19. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. As a group, sell-side analysts anticipate that Unity Software Inc. will post -1.25 EPS for the current year.

Institutional Investors Weigh In On Unity Software

Large investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after acquiring an additional 1,212 shares during the period. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the fourth quarter valued at $28,000. Banque Transatlantique SA bought a new stake in shares of Unity Software during the 1st quarter valued at $28,000. R Squared Ltd bought a new position in shares of Unity Software in the fourth quarter valued at approximately $30,000. Finally, Principal Securities Inc. boosted its stake in Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after buying an additional 477 shares during the period. Hedge funds and other institutional investors own 73.46% of the company's stock.

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.