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

Unity Software Inc. (NYSE:U)’s stock price fell 3.5% on Friday following insider selling activity. The company traded as low as $23.51 and last traded at $23.64. 4,791,563 shares changed hands during 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 the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total value of $6,255,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC raised their target price on Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group boosted their target price on shares of Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays raised their price target on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Wedbush upped their price objective on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, Stifel Nicolaus increased their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.21.

Unity Software Price Performance

The firm 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 current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $22.74 and its 200-day moving average price is $19.63.

Institutional Investors Weigh In On Unity Software

A number of institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its holdings in shares of Unity Software by 60.2% in the second quarter. CIBC Asset Management Inc now owns 12,384 shares of the company’s stock valued at $201,000 after purchasing an additional 4,656 shares in the last quarter. Arizona State Retirement System boosted its holdings in Unity Software by 9.2% in the second quarter. Arizona State Retirement System now owns 74,212 shares of the company’s stock valued at $1,207,000 after purchasing an additional 6,272 shares during the period. Flynn Zito Capital Management LLC grew its stake in Unity Software by 84.7% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 14,692 shares of the company’s stock worth $239,000 after purchasing an additional 6,738 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Unity Software during the 2nd quarter worth about $82,000. Finally, Quest Partners LLC raised its position in Unity Software by 213,614.3% in the 2nd quarter. Quest Partners LLC now owns 29,920 shares of the company’s stock valued at $486,000 after purchasing an additional 29,906 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.