Unity Software (NYSE:U) Shares Down 3.5% – Here’s What Happened

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on U shares. Macquarie boosted their price target on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, November 8th. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Wedbush boosted their price target on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. UBS Group boosted their target price on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Benchmark lifted their price target on shares of Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Unity Software currently has an average rating of “Hold” and a consensus target price of $22.21.

Unity Software Stock Down 2.2 %

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $22.65 and a 200-day simple moving average of $19.56. The company has a market capitalization of $9.66 billion, a P/E ratio of -11.75 and a beta of 2.33.

Insider Buying and Selling

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $17.52, for a total value of $4,380,000.00. Following the sale, the director now owns 4,248,146 shares in the company, valued at approximately $74,427,517.92. This represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Felix The sold 11,719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.39, for a total value of $285,826.41. Following the completion of the sale, the senior vice president now owns 411,960 shares of the company’s stock, valued at $10,047,704.40. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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

Several large investors have recently modified their holdings of U. Everence Capital Management Inc. acquired a new stake in Unity Software in the fourth quarter valued at approximately $265,000. GAMMA Investing LLC increased its position in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after acquiring an additional 411 shares in the last quarter. Versant Capital Management Inc lifted its position in Unity Software by 186.9% in the 4th quarter. Versant Capital Management Inc now owns 2,812 shares of the company’s stock valued at $63,000 after acquiring an additional 1,832 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in Unity Software during the 3rd quarter valued at about $728,000. Finally, Tidal Investments LLC raised its stake in shares of Unity Software by 4.9% in the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock worth $349,000 after purchasing an additional 723 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

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.