Unity Software (NYSE:U) Stock Price Down 5.6% on Insider Selling

Unity Software Inc. (NYSE:U - Get Free Report) shares dropped 5.6% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $24.62 and last traded at $24.66. Approximately 4,804,440 shares were traded during trading, a decline of 55% from the average daily volume of 10,651,200 shares. The stock had previously closed at $26.12.

Specifically, Director David Helgason sold 7,860 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total value of $207,897.00. Following the sale, the director now directly owns 10,493 shares of the company's stock, valued at $277,539.85. This trade represents a 42.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Felix The sold 20,000 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares of the company's stock, valued at approximately $10,751,462.80. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on U shares. UBS Group increased their price objective on Unity Software from $15.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Morgan Stanley upgraded shares of Unity Software from an "equal weight" rating to an "overweight" rating and set a $22.00 price target on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC boosted their price objective on shares of Unity Software from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Wells Fargo & Company assumed coverage on shares of Unity Software in a research report on Monday, October 28th. They issued an "equal weight" rating and a $20.00 target price on the stock. Finally, JMP Securities restated a "market perform" rating on shares of Unity Software in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Unity Software currently has a consensus rating of "Hold" and an average target price of $23.35.

Unity Software Trading Down 6.4 %

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm's fifty day moving average is $22.15 and its two-hundred day moving average is $19.04. The firm has a market cap of $9.85 billion, a P/E ratio of -11.98 and a beta of 2.33.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Unity Software by 9.7% during the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company's stock valued at $106,008,000 after purchasing an additional 413,474 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Unity Software by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,324,694 shares of the company's stock valued at $37,806,000 after buying an additional 200,008 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Unity Software by 35.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company's stock worth $31,805,000 after buying an additional 507,274 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company's stock worth $42,662,000 after acquiring an additional 944,709 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Unity Software by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company's stock valued at $23,929,000 after acquiring an additional 424,806 shares during the period. 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.