Unity Software (NYSE:U) Shares Down 3.5% After Insider Selling

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

Specifically, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of analysts have weighed in on U shares. Benchmark raised their price objective on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Wells Fargo & Company assumed 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. Barclays upped their price objective on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. Finally, UBS Group boosted their target price on Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.21.

Unity Software Stock Performance

The company has a market cap of $9.70 billion, a PE ratio of -11.81 and a beta of 2.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock’s 50-day simple moving average is $22.74 and its 200 day simple moving average is $19.63.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares during the period. Farther Finance Advisors LLC increased its holdings in Unity Software by 4.0% in the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock valued at $315,000 after buying an additional 538 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Unity Software by 4.9% during the 3rd quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock valued at $349,000 after acquiring an additional 723 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Unity Software by 28.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock worth $89,000 after acquiring an additional 876 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Unity Software by 8.2% in the 2nd quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock worth $216,000 after acquiring an additional 1,010 shares during the period. 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.