Unity Software Inc. (NYSE:U) Director Michelle K. Lee Sells 800 Shares

Unity Software Inc. (NYSE:U) Director Michelle K. Lee sold 800 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $20.58, for a total transaction of $16,464.00. Following the transaction, the director now directly owns 7,215 shares in the company, valued at $148,484.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Unity Software Stock Performance

Unity Software stock opened at $20.23 on Thursday. The business has a 50 day moving average of $16.72 and a 200-day moving average of $20.14. The company has a market capitalization of $8.03 billion, a P/E ratio of -9.03 and a beta of 2.25. Unity Software Inc. has a 1 year low of $13.90 and a 1 year high of $43.54. 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 (NYSE:U) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The firm had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.26) EPS. On average, equities research analysts predict that Unity Software Inc. will post -1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

U has been the topic of a number of analyst reports. Macquarie increased their target price on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday. Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research note on Tuesday, September 3rd. Needham & Company LLC dropped their price objective on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Finally, Wedbush boosted their price target on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Unity Software presently has a consensus rating of “Hold” and an average target price of $27.46.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after purchasing an additional 208,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Unity Software by 30.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after acquiring an additional 2,777,884 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after acquiring an additional 2,787,058 shares during the period. Norges Bank bought a new position in shares of Unity Software in the 4th quarter worth about $379,180,000. Finally, Capital Research Global Investors raised its position in shares of Unity Software by 18.7% in the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after acquiring an additional 1,342,787 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

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.