Unity Software (NYSE:U) shares fall 5.6% on insider selling

The shares of Unity Software Inc. (NYSE:U – Get Free Report) shares fell 5.6% in afternoon trading on Friday due to insider selling activity. The stock traded as low as $24.62 and last traded at $24.66. About 4,804,440 shares traded hands during trading, a decline of 55% from the average daily volume of 10,651,200 shares. The stock previously closed at $26.12.

Specifically, director David Helgason sold 7,860 shares of Unity Software in a transaction that took place on Tuesday, December 10. The shares were sold at an average price of $26.45, for a total transaction of $207,897.00. Following the sale, the director now owns 10,493 shares of the company’s stock, valued at approximately $277,539.85. The trade was down 42.83% in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, SVP Felix The sold 20,000 shares of the company’s stock in a transaction dated Friday, December 6. The shares sold at an average price of $27.43, for a total transaction of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at $10,751,462.80. The trade was down 4.85% in their position. The explanation of this sale can be found here.

Analysts set new price targets

A number of analysts have issued reports on U stock. Morgan Stanley raised Unity Software from an “equalweight” rating to an “overweight” rating and set a $22.00 target price for the stock in a research report on Tuesday, September 3. Macquarie raised their price objective on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Friday, November 8. UBS Group raised their price target on Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, October 18. JMP Securities issued another “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Finally, Stifel Nicolaus raised their price objective on shares of Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating on the stock. According to MarketBeat, Unity Software has an average rating of “Hold” and a consensus target price of $23.35.

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Unity Software shares fell 6.4%

The company’s fifty day simple moving average is $22.15 and its 200 day simple moving average is $19.04. 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 in Unity software

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

About Unity software

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Unity Software Inc operates a real-time 3D development platform. The platform provides software solutions for creating, executing and generating 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 stores 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 .

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