Unity Software (NYSE:U) Price Target Cut to $14.00

Unity Software (NYSE:U) had its target price lowered by research analysts at Macquarie from $20.00 to $14.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Macquarie’s price target would suggest a potential downside of 15.66% from the stock’s current price.

U has been the subject of several other research reports. Benchmark reaffirmed a “sell” rating and set a $16.00 target price on shares of Unity Software in a report on Friday, May 10th. Citigroup reduced their target price on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday, May 10th. Barclays dropped their price objective on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of Unity Software in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.44.

Unity Software Stock Up 0.9 %

Shares of NYSE:U traded up $0.14 during midday trading on Thursday, reaching $16.60. 1,741,524 shares of the company were exchanged, compared to its average volume of 9,615,378. Unity Software has a fifty-two week low of $15.23 and a fifty-two week high of $50.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $20.37 and a two-hundred day simple moving average of $27.88. The firm has a market cap of $6.49 billion, a PE ratio of -7.41 and a beta of 2.28.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.13. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The firm had revenue of $460.38 million for the quarter, compared to analyst estimates of $422.53 million. As a group, sell-side analysts forecast that Unity Software will post -1.81 earnings per share for the current year.

Insider Activity at Unity Software

In related news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.58, for a total value of $53,160.00. Following the sale, the chief marketing officer now directly owns 444,617 shares of the company’s stock, valued at $11,817,919.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.58, for a total transaction of $53,160.00. Following the transaction, the chief marketing officer now directly owns 444,617 shares of the company’s stock, valued at $11,817,919.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $24.42, for a total transaction of $25,323.54. Following the transaction, the senior vice president now directly owns 386,706 shares in the company, valued at $9,443,360.52. The disclosure for this sale can be found here. Insiders have sold 247,736 shares of company stock valued at $4,885,280 over the last three months. 6.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in U. Cetera Advisors LLC bought a new stake in shares of Unity Software during the 1st quarter valued at $2,747,000. Cetera Investment Advisers increased its position in shares of Unity Software by 346.5% during the 1st quarter. Cetera Investment Advisers now owns 119,938 shares of the company’s stock valued at $3,202,000 after purchasing an additional 93,078 shares during the last quarter. PGGM Investments purchased a new stake in shares of Unity Software during the 1st quarter valued at about $693,000. Virtu Financial LLC bought a new position in shares of Unity Software during the 1st quarter valued at approximately $1,147,000. Finally, EMC Capital Management grew its stake in shares of Unity Software by 100.0% during the 1st quarter. EMC Capital Management now owns 5,000 shares of the company’s stock valued at $130,000 after acquiring an additional 2,500 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.