Unity Software Inc. (NYSE:U) CEO Sells $38,500,000.00 in Stock

Unity Software Inc. (NYSE:U) CEO John S. Riccitiello sold 1,400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $27.50, for a total transaction of $38,500,000.00. Following the completion of the transaction, the chief executive officer now owns 7,221,232 shares in the company, valued at approximately $198,583,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

U stock opened at $122.80 on Friday. Unity Software Inc. has a twelve month low of $65.11 and a twelve month high of $124.18. The stock’s 50 day moving average is $99.19.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. The company had revenue of $200.80 million for the quarter, compared to analyst estimates of $186.85 million. Unity Software’s quarterly revenue was up 53.4% compared to the same quarter last year. Research analysts expect that Unity Software Inc. will post -0.88 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in Unity Software in the third quarter valued at $61,000. Zweig DiMenna Associates LLC bought a new stake in shares of Unity Software during the third quarter valued at about $2,182,000. Usca Ria LLC bought a new stake in shares of Unity Software during the third quarter valued at about $1,744,000. ARK Investment Management LLC bought a new stake in shares of Unity Software during the third quarter valued at about $77,714,000. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Unity Software during the third quarter valued at about $441,000.

U has been the topic of several research reports. Piper Sandler raised their price target on shares of Unity Software from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 13th. Stifel Nicolaus raised their price target on shares of Unity Software from $80.00 to $95.00 and gave the company a “hold” rating in a report on Friday, November 13th. Wedbush began coverage on shares of Unity Software in a report on Tuesday, October 13th. They issued an “outperform” rating and a $125.00 price target on the stock. TD Securities raised shares of Unity Software to a “buy” rating in a research report on Friday, September 25th. Finally, Barclays began coverage on shares of Unity Software in a research report on Tuesday, October 13th. They issued an “equal weight” rating and a $97.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $107.10.

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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