Unity Software (NYSE:U) Stock Price Down 5.6% on Insider Selling

Unity Software Inc. (NYSE:U) fell 5.6% during trading on Friday following insider selling activity. The stock traded as low as $24.62 and last traded at $24.66. 4,804,440 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 10,651,200 shares. The stock had previously closed at $26.12.

Specifically, Director David Helgason sold 7,860 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total transaction of $207,897.00. Following the completion of the sale, the director now owns 10,493 shares of the company’s stock, valued at approximately $277,539.85. This represents a 42.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Felix The sold 20,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the sale, the senior vice president now owns 391,960 shares in the company, valued at $10,751,462.80. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. Barclays upped their price objective 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. Wells Fargo & Company started coverage on Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price for the company. Macquarie raised their price target on shares of Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a research note on Friday, November 8th. Finally, UBS Group lifted their price target on shares of Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Unity Software currently has an average rating of “Hold” and an average price target of $23.35.

Unity Software Stock Performance

The company’s 50-day simple moving average is $22.15 and its 200-day simple moving average is $19.04. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of -11.98 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.

Institutional Trading of Unity Software

Several institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Unity Software by 56.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,234 shares of the company’s stock valued at $231,000 after acquiring an additional 5,128 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Unity Software by 308.8% in the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock valued at $51,000 after purchasing an additional 2,359 shares during the last quarter. Pasadena Private Wealth LLC acquired a new stake in shares of Unity Software during the second quarter worth $211,000. Bank of New York Mellon Corp lifted its holdings in Unity Software by 40.6% in the second quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock valued at $23,929,000 after buying an additional 424,806 shares during the period. Finally, HB Wealth Management LLC boosted its position in Unity Software by 82.8% during the second quarter. HB Wealth Management LLC now owns 106,202 shares of the company’s stock valued at $1,727,000 after acquiring an additional 48,110 shares during the last quarter. Institutional investors 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.