Unity Software (NYSE:U) Trading Down 3.5% – Time to Sell?

Unity Software Inc. (NYSE:U)’s share price fell 3.5% during mid-day trading on Friday . The company traded as low as $23.51 and last traded at $23.64. 4,791,563 shares were traded during trading, a decline of 74% from the average session volume of 18,710,945 shares. The stock had previously closed at $24.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group lifted their price objective on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Oppenheimer restated a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Barclays lifted their price objective on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Stifel Nicolaus upped their price objective on shares of Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Wells Fargo & Company began coverage on shares of Unity Software in a report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Unity Software presently has an average rating of “Hold” and a consensus target price of $22.21.

Unity Software Stock Down 2.2 %

The company’s 50 day moving average is $22.65 and its two-hundred day moving average is $19.56. The company has a market capitalization of $9.66 billion, a PE ratio of -11.75 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Insider Transactions at Unity Software

In related news, Director David Helgason sold 7,860 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total value of $207,897.00. Following the completion of the transaction, the director now owns 10,493 shares in the company, valued at $277,539.85. This trade represents a 42.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Barrysmith sold 1,228 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the sale, the chief financial officer now directly owns 453,638 shares in the company, valued at approximately $11,086,912.72. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 512,669 shares of company stock valued at $11,225,869. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after buying an additional 944,709 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Unity Software in the second quarter valued at $2,535,000. CIBC Asset Management Inc increased its holdings in shares of Unity Software by 2,665.4% in the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after purchasing an additional 330,088 shares in the last quarter. LMR Partners LLP purchased a new stake in Unity Software during the third quarter worth about $611,000. Finally, Edgestream Partners L.P. grew its position in Unity Software by 637.9% during the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after buying an additional 88,955 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.