Unity Software (NYSE:U) Stock Price Down 3.5% Following Insider Selling

Unity Software Inc. (NYSE:U) traded down 3.5% on Friday following insider selling activity. The stock traded as low as $23.51 and last traded at $23.64. 4,791,563 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 18,710,945 shares. The stock had previously closed at $24.51.

Specifically, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total value of $6,255,000.00. Following the transaction, the director now owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. This trade represents a 6.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

U has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Barclays lifted their price objective on shares of Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Benchmark lifted their price target on Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a report on Friday, November 8th. UBS Group increased their price objective on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company began coverage on Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.21.

Unity Software Stock Down 1.7 %

The business has a fifty day moving average of $22.74 and a 200 day moving average of $19.63. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -11.81 and a beta of 2.33. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently modified their holdings of the business. Everence Capital Management Inc. acquired a new position in Unity Software during the 4th quarter worth $265,000. GAMMA Investing LLC boosted its stake in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after purchasing an additional 411 shares during the period. Versant Capital Management Inc grew its holdings in Unity Software by 186.9% in the 4th quarter. Versant Capital Management Inc now owns 2,812 shares of the company’s stock valued at $63,000 after buying an additional 1,832 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Unity Software in the 3rd quarter worth approximately $728,000. Finally, Tidal Investments LLC lifted its holdings in shares of Unity Software by 4.9% during the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock worth $349,000 after buying an additional 723 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.