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

Unity Software Inc. (NYSE:U - Get Free Report)'s stock price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $28.34, but opened at $27.00. Unity Software shares last traded at $26.98, with a volume of 7,907,087 shares.

Specifically, Director Tomer Bar-Zeev sold 83,333 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the completion of the sale, the director now directly owns 3,398,146 shares in the company, valued at approximately $86,448,834.24. The trade was a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the transaction, the chief accounting officer now owns 450,881 shares in the company, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research analysts recently weighed in on U shares. Macquarie increased their target price on Unity Software from $15.00 to $16.00 and gave the stock an "underperform" rating in a research report on Friday, November 8th. Barclays lifted their price objective on Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research note on Friday. Needham & Company LLC boosted their target price on Unity Software from $26.00 to $33.00 and gave the stock a "buy" rating in a report on Friday. Wedbush restated an "outperform" rating and issued a $27.00 price target on shares of Unity Software in a report on Thursday, February 13th. Finally, Hsbc Global Res raised shares of Unity Software to a "strong-buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.96.

Unity Software Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of -15.28 and a beta of 2.32. The company has a 50-day simple moving average of $22.58 and a two-hundred day simple moving average of $21.27.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million for the quarter, compared to analysts' expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in U. Soviero Asset Management LP acquired a new stake in Unity Software in the fourth quarter worth about $2,247,000. Sphera Management Technology Funds Ltd acquired a new position in shares of Unity Software during the fourth quarter valued at approximately $1,128,000. Two Sigma Advisers LP bought a new stake in Unity Software during the fourth quarter worth approximately $494,000. Two Sigma Investments LP bought a new position in Unity Software during the 4th quarter valued at $22,999,000. Finally, Tidal Investments LLC increased its position in shares of Unity Software by 32.6% during the 4th quarter. Tidal Investments LLC now owns 20,428 shares of the company's stock valued at $459,000 after purchasing an additional 5,018 shares during the period. Institutional investors 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.