Unity Software (NYSE:U) Shares Down 5.6% Following Insider Selling

Unity Software Inc. (NYSE:U) shares fell 5.6% on Friday following insider selling activity. The company traded as low as $24.62 and last traded at $24.66. 4,804,440 shares traded hands during trading, a decline of 55% from the average session volume of 10,651,200 shares. The stock had previously closed at $26.12.

Specifically, Director David Helgason sold 7,860 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total transaction of $207,897.00. Following the transaction, the director now owns 10,493 shares in the company, valued at approximately $277,539.85. The trade was a 42.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Felix The sold 20,000 shares of Unity Software stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the sale, the senior vice president now directly owns 391,960 shares in the company, valued at approximately $10,751,462.80. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

U has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 price target on the stock. Needham & Company LLC upped their target price on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JMP Securities restated a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. Benchmark increased their target price on Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.35.

Unity Software Trading Down 6.4 %

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average of $22.15 and a two-hundred day moving average of $19.04. The firm has a market cap of $9.85 billion, a P/E ratio of -11.98 and a beta of 2.33.

Institutional Trading of Unity Software

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 949 shares in the last quarter. Planning Capital Management Corp bought a new position in Unity Software during the 3rd quarter worth $34,000. Northwestern Mutual Wealth Management Co. raised its holdings in Unity Software by 163.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after acquiring an additional 1,389 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Unity Software during the 3rd quarter valued at $43,000. Finally, Blue Trust Inc. grew its holdings in shares of Unity Software by 308.8% during the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after purchasing an additional 2,359 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.