Insider Selling: Unity Software Inc. (NYSE:U) CMO Sells 2,000 Shares of Stock
Unity Software Inc. (NYSE:U – Get Free Report) CMO Carol W. Carpenter sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $29.40, for a total value of $58,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 459,034 shares of the company’s stock, valued at approximately $13,495,599.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Unity Software Trading Down 4.1 %
Shares of U stock traded down $1.33 on Tuesday, reaching $31.30. 9,023,376 shares of the stock were exchanged, compared to its average volume of 11,294,607. The stock has a market cap of $11.89 billion, a PE ratio of -13.49 and a beta of 2.43. Unity Software Inc. has a one year low of $22.20 and a one year high of $50.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a 50 day moving average price of $28.42 and a 200 day moving average price of $34.56.
Unity Software (NYSE:U – Get Free Report) last released its earnings results on Thursday, November 9th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. The company had revenue of $544.21 million during the quarter, compared to the consensus estimate of $550.48 million. Unity Software had a negative return on equity of 13.50% and a negative net margin of 42.31%. Equities research analysts forecast that Unity Software Inc. will post -0.82 EPS for the current fiscal year.
Institutional Investors Weigh In On Unity Software
Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Unity Software by 12.1% in the third quarter. Wellington Management Group LLP now owns 15,124 shares of the company’s stock valued at $475,000 after purchasing an additional 1,633 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Unity Software in the third quarter worth about $414,000. Comerica Bank bought a new stake in shares of Unity Software in the third quarter worth about $558,000. Creative Planning increased its holdings in shares of Unity Software by 5.0% in the third quarter. Creative Planning now owns 99,926 shares of the company’s stock worth $3,137,000 after acquiring an additional 4,803 shares in the last quarter. Finally, First Foundation Advisors increased its holdings in shares of Unity Software by 19.5% in the third quarter. First Foundation Advisors now owns 11,281 shares of the company’s stock worth $354,000 after acquiring an additional 1,839 shares in the last quarter. Institutional investors own 64.74% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on U. Jefferies Financial Group upgraded Unity Software from an “underperform” rating to a “hold” rating and cut their target price for the company from $29.00 to $27.00 in a research note on Thursday, October 19th. Wedbush reduced their price objective on shares of Unity Software from $55.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Morgan Stanley lowered their target price on shares of Unity Software from $40.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, November 10th. Citigroup reissued a “buy” rating and issued a $49.00 price target on shares of Unity Software in a research report on Tuesday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $56.00 price objective on shares of Unity Software in a report on Monday, September 25th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.80.
Unity Software Company Profile (Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Unity Software, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Unity Software wasn’t on the list.
While Unity Software currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for December 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Original: MarketBeat News Feed: Insider Selling: Unity Software Inc. (NYSE:U) CMO Sells 2,000 Shares of Stock