Key Points
- Unity Software CEO Matthew Bromberg sold 138,993 shares on May 26 at an average price of $27.18, totaling about $3.78 million. After the sale, he still held 1,557,514 shares, and the filing said the transaction was to cover tax withholding tied to vested equity awards.
- Multiple insiders at Unity also reported stock sales related to tax withholding on equity vesting, including the CFO, COO, CAO, and an SVP. While routine, the breadth of the selling may pressure investor sentiment.
- Analysts remain broadly constructive on Unity, with recent target hikes from several firms and a consensus rating of “Moderate Buy.” MarketBeat says the average price target is $38.77, suggesting upside from the current share price.
Unity Software Inc. (NYSE:U - Get Free Report) SVP Rebecca Berenice Boyden sold 952 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the completion of the transaction, the senior vice president directly owned 309,445 shares in the company, valued at $8,416,904. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Unity Software Stock Up 7.7%
NYSE U opened at $29.89 on Friday. The stock's 50-day moving average price is $24.19 and its 200-day moving average price is $31.44. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software Inc. has a 52 week low of $16.78 and a 52 week high of $52.15. The company has a market capitalization of $13.05 billion, a P/E ratio of -19.04, a price-to-earnings-growth ratio of 3.55 and a beta of 2.04.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on U shares. Needham & Company LLC lifted their target price on Unity Software from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Barclays lifted their target price on Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Bank of America lifted their target price on Unity Software from $19.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, March 27th. Citigroup reduced their price target on shares of Unity Software from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Unity Software from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Unity Software presently has an average rating of "Moderate Buy" and an average target price of $38.77.
Check Out Our Latest Report on U
Key Stories Impacting Unity Software
Here are the key news stories impacting Unity Software this week:
Hedge Funds Weigh In On Unity Software
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC purchased a new position in shares of Unity Software in the 1st quarter worth approximately $1,984,000. Edgestream Partners L.P. purchased a new position in shares of Unity Software in the 1st quarter worth approximately $1,006,000. Amundi boosted its holdings in shares of Unity Software by 74.0% in the 1st quarter. Amundi now owns 2,229,427 shares of the company's stock worth $48,914,000 after purchasing an additional 948,266 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Unity Software by 22.2% in the 1st quarter. California State Teachers Retirement System now owns 367,521 shares of the company's stock worth $8,063,000 after purchasing an additional 66,785 shares during the period. Finally, Readystate Asset Management LP purchased a new position in shares of Unity Software in the 1st quarter worth approximately $2,185,000. Hedge funds and other institutional investors own 73.46% of the company's stock.
Unity Software Company Profile
(
Get Free Report)
Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.
The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.
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