Key Points
- Unity CFO Jarrod Yahes sold 26,017 shares at an average price of $45.31, worth approximately $1.18 million. The sale reduced his direct holdings by 3.69% and was intended to cover tax withholding on vested equity awards.
- Unity reported stronger-than-expected quarterly results, with adjusted EPS of $0.28 versus the $0.11 loss analysts expected and revenue of $546.47 million, up 24% year over year.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $45.16 target price; the stock recently traded near $44.15, while 73.46% of shares are held by institutional investors.
Unity Software Inc. (NYSE:U - Get Free Report) SVP Rebecca Berenice Boyden sold 1,032 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares in the company, valued at $13,977,277.16. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Unity Software Price Performance
Shares of U opened at $44.15 on Thursday. The business has a 50-day moving average of $34.53 and a 200-day moving average of $27.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of -32.46, a price-to-earnings-growth ratio of 1.97 and a beta of 2.04. Unity Software Inc. has a 1 year low of $16.78 and a 1 year high of $52.15.
Unity Software (NYSE:U - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, equities research analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently weighed in on U shares. Piper Sandler lifted their price objective on Unity Software from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Citigroup raised their target price on Unity Software from $40.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Raymond James Financial began coverage on Unity Software in a research note on Monday, June 29th. They issued a "market perform" rating on the stock. Oppenheimer increased their price target on Unity Software from $38.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Unity Software from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.16.
Get Our Latest Stock Report on Unity Software
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Unity Software by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company's stock worth $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Focus Partners Wealth acquired a new position in Unity Software during the first quarter worth $260,000. Northwestern Mutual Wealth Management Co. raised its holdings in Unity Software by 28.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company's stock worth $134,000 after buying an additional 1,241 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Unity Software by 11.3% in the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company's stock valued at $12,603,000 after buying an additional 53,015 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Unity Software by 1,135.6% during the second quarter. Sei Investments Co. now owns 224,715 shares of the company's stock valued at $5,438,000 after buying an additional 206,529 shares during the last quarter. Institutional investors own 73.46% of the company's stock.
About Unity Software
(
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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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