Tomer Bar-Zeev Sells 250,000 Shares of Unity Software Inc. (NYSE:U) Stock

Unity Software Inc. (NYSE:U) Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $17.52, for a total value of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares in the company, valued at $74,427,517.92. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Unity Software Stock Up 10.0 %

NYSE:U opened at $19.79 on Wednesday. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of -9.70 and a beta of 2.29. Unity Software Inc. has a one year low of $13.90 and a one year high of $43.54. The stock has a 50-day simple moving average of $20.75 and a 200 day simple moving average of $18.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Hedge Funds Weigh In On Unity Software

Hedge funds have recently bought and sold shares of the company. Magnetar Financial LLC acquired a new position in Unity Software in the second quarter worth about $2,535,000. Vanguard Group Inc. lifted its holdings in Unity Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after acquiring an additional 208,566 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after acquiring an additional 330,088 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Unity Software by 187.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock worth $9,440,000 after acquiring an additional 230,696 shares during the last quarter. Finally, Creative Planning lifted its holdings in Unity Software by 111.7% in the second quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after acquiring an additional 71,325 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays increased their target price on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price target on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, September 13th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Needham & Company LLC increased their price target on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Benchmark increased 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. 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, Unity Software presently has a consensus rating of “Hold” and a consensus target price of $23.35.

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.