Unity Software (NYSE:U) PT Lowered to $23.00

Unity Software (NYSE:U) had its price objective decreased by analysts at Needham & Company LLC from $31.00 to $23.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 48.01% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Benchmark dropped their price objective on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research note on Friday. The Goldman Sachs Group dropped their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday. Wedbush decreased their price objective on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays dropped their target price on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, Stifel Nicolaus decreased their price target on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Unity Software presently has a consensus rating of “Hold” and an average price target of $26.46.

Unity Software Stock Performance

Shares of U traded up $1.18 during trading hours on Friday, hitting $15.54. The company’s stock had a trading volume of 35,526,561 shares, compared to its average volume of 9,780,860. The business has a 50 day simple moving average of $16.33 and a two-hundred day simple moving average of $23.12. Unity Software has a 52-week low of $13.90 and a 52-week high of $43.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -6.94 and a beta of 2.25.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The firm had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. During the same period last year, the company earned ($0.26) earnings per share. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, equities analysts expect that Unity Software will post -1.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Unity Software news, CFO Luis Felipe Visoso sold 42,718 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $815,913.80. Following the completion of the transaction, the chief financial officer now owns 1,598,345 shares of the company’s stock, valued at $30,528,389.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares in the company, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. Insiders have sold a total of 245,005 shares of company stock valued at $4,798,048 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kovack Advisors Inc. boosted its holdings in Unity Software by 1.5% in the fourth quarter. Kovack Advisors Inc. now owns 26,411 shares of the company’s stock worth $1,080,000 after purchasing an additional 380 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in Unity Software by 0.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock valued at $4,750,000 after acquiring an additional 440 shares during the period. Advisors Asset Management Inc. boosted its position in Unity Software by 31.6% in the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after purchasing an additional 562 shares during the last quarter. Bouvel Investment Partners LLC grew its stake in shares of Unity Software by 2.7% during the 1st quarter. Bouvel Investment Partners LLC now owns 22,783 shares of the company’s stock valued at $608,000 after purchasing an additional 597 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in shares of Unity Software by 3.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 20,232 shares of the company’s stock valued at $827,000 after purchasing an additional 663 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.