Unity Software Inc. (NYSE:U) Insider Marc Whitten Sells 86,768 Shares

Unity Software Inc. (NYSE:U) insider Marc Whitten sold 86,768 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the transaction, the insider now directly owns 2,483 shares in the company, valued at $51,149.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Marc Whitten also recently made the following trade(s):

• On Monday, February 26th, Marc Whitten sold 7,232 shares of Unity Software stock. The stock was sold at an average price of $32.56, for a total transaction of $235,473.92.

Unity Software Price Performance

Shares of Unity Software stock traded down $0.10 during midday trading on Wednesday, reaching $20.46. 8,166,444 shares of the company’s stock traded hands, compared to its average volume of 9,748,004. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. Unity Software Inc. has a 52 week low of $20.32 and a 52 week high of $50.08. The company’s 50 day simple moving average is $24.77 and its 200 day simple moving average is $30.00.

Unity Software (NYSE:U) last released its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The firm had revenue of $609.27 million for the quarter, compared to analyst estimates of $551.01 million. During the same period in the prior year, the firm earned ($0.50) EPS. The firm’s revenue was up 35.1% on a year-over-year basis. Equities analysts forecast that Unity Software Inc. will post -0.63 EPS for the current year.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in shares of Unity Software by 4.8% in the 3rd quarter. Northern Trust Corp now owns 1,583,326 shares of the company’s stock valued at $49,701,000 after buying an additional 72,770 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of Unity Software by 3.2% in the 3rd quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock worth $415,000 after buying an additional 407 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Unity Software by 20.3% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 3,670 shares of the company’s stock valued at $150,000 after acquiring an additional 620 shares during the period. Graham Capital Management L.P. acquired a new position in Unity Software in the third quarter valued at about $414,000. Finally, LA Financiere DE L Echiquier boosted its holdings in shares of Unity Software by 25.3% in the 4th quarter. LA Financiere DE L Echiquier now owns 399,600 shares of the company’s stock worth $16,340,000 after acquiring an additional 80,600 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays reduced their price target on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price target on shares of Unity Software in a report on Friday, May 10th. Benchmark restated a “sell” rating and set a $16.00 price objective on shares of Unity Software in a research note on Friday, May 10th. Macquarie lowered shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a research note on Monday, February 12th. Finally, Piper Sandler raised shares of Unity Software from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Unity Software currently has an average rating of “Hold” and an average target price of $35.38.

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.