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

Unity Software Inc. (NYSE:U) Director David Helgason sold 250,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now 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 Securities & Exchange Commission, which is available through this link.

Unity Software Stock Up 5.3 %

U stock opened at $19.91 on Friday. The firm has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $20.33. 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 1-year low of $13.90 and a 1-year high of $43.54. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of -8.89 and a beta of 2.25.

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

Wall Street Analysts Forecast Growth

U has been the topic of several recent research reports. The Goldman Sachs Group reduced their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Wedbush lowered their price target on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Macquarie decreased their price objective on shares of Unity Software from $14.00 to $12.00 and set an “underperform” rating for the company in a research report on Friday, August 9th. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Piper Sandler reissued a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.82.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Unity Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after buying an additional 208,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Unity Software by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after acquiring an additional 2,777,884 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after purchasing an additional 2,787,058 shares in the last quarter. Norges Bank acquired a new position in shares of Unity Software during the fourth quarter valued at $379,180,000. Finally, Capital Research Global Investors raised its stake in shares of Unity Software by 18.7% during the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after purchasing an additional 1,342,787 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

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.