Unity Software Inc. (NYSE:U) Director David Helgason Sells 250,000 Shares of Stock

Unity Software Inc. (NYSE:U) Director David Helgason sold 250,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Unity Software Stock Performance

Shares of U stock opened at $19.90 on Friday. The stock has a market cap of $7.78 billion, a PE ratio of -8.88 and a beta of 2.25. The stock has a 50-day moving average of $16.44 and a 200-day moving average of $20.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.12. The firm had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business’s quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts expect that Unity Software Inc. will post -1.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on U shares. Benchmark reduced their target price on shares of Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a research note on Friday, August 9th. The Goldman Sachs Group decreased their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Tuesday, September 3rd. Piper Sandler reissued a “neutral” rating and issued a $17.00 target price (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Finally, Wedbush dropped their price target on Unity Software from $33.50 to $21.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Unity Software presently has an average rating of “Hold” and an average price target of $26.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its holdings in shares of Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after buying an additional 6,004,655 shares during the period. Janney Montgomery Scott LLC lifted its position in Unity Software by 26.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after acquiring an additional 7,484 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Unity Software in the 1st quarter worth $3,878,000. Seldon Capital LP bought a new position in Unity Software during the 4th quarter worth about $7,576,000. Finally, Vanguard Group Inc. raised its stake in shares of Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after purchasing an additional 208,566 shares during the period. 73.46% of the stock is currently owned by institutional investors.

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.