Key Points
- Unity COO Alexander Blum sold 43,556 shares at an average of $43.51, generating approximately $1.90 million. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 6.17%.
- Unity’s latest quarter exceeded expectations, with adjusted EPS of $0.28 versus the $0.11 loss analysts expected and revenue of $546.47 million, up 24% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $45.16; shares opened at $40.89 after recently trading between $16.78 and $52.15.
Unity Software Inc. (NYSE:U - Get Free Report) COO Alexander Blum sold 43,556 shares of the business's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the sale, the chief operating officer owned 661,855 shares in the company, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alexander Blum also recently made the following trade(s):
- On Thursday, August 27th, Alexander Blum sold 1,964 shares of Unity Software stock. The shares were sold at an average price of $44.81, for a total value of $88,006.84.
- On Tuesday, August 25th, Alexander Blum sold 20,595 shares of Unity Software stock. The stock was sold at an average price of $45.31, for a total transaction of $933,159.45.
Unity Software Trading Down 2.9%
U stock opened at $40.89 on Wednesday. Unity Software Inc. has a twelve month low of $16.78 and a twelve month high of $52.15. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of -30.07, a price-to-earnings-growth ratio of 1.84 and a beta of 2.05. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm's fifty day simple moving average is $35.74 and its two-hundred day simple moving average is $27.97.
Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company's revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on U. Wedbush lifted their target price on Unity Software from $32.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. Piper Sandler increased their target price on shares of Unity Software from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Zacks Research raised shares of Unity Software from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Citizens Jmp boosted their price objective on shares of Unity Software from $37.00 to $45.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Finally, Raymond James Financial started coverage on Unity Software in a research report on Monday, June 29th. They set a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.16.
Check Out Our Latest Research Report on U
Hedge Funds Weigh In On Unity Software
Several hedge funds and other institutional investors have recently modified their holdings of U. Corient Private Wealth LP grew its position in Unity Software by 194.1% during the 2nd quarter. Corient Private Wealth LP now owns 48,691 shares of the company's stock worth $1,392,000 after purchasing an additional 32,135 shares during the last quarter. Amundi lifted its stake in shares of Unity Software by 4.7% during the second quarter. Amundi now owns 2,334,695 shares of the company's stock worth $66,726,000 after buying an additional 105,268 shares during the period. HighTower Advisors LLC grew its holdings in shares of Unity Software by 5.9% during the second quarter. HighTower Advisors LLC now owns 49,198 shares of the company's stock valued at $1,406,000 after buying an additional 2,762 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Unity Software during the 2nd quarter worth about $600,000. Finally, California State Teachers Retirement System grew its stake in Unity Software by 2,948.2% during the 2nd quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company's stock valued at $320,180,000 after purchasing an additional 10,835,410 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.
About Unity Software
(
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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