Unity Software (NYSE:U) PT Lowered to $10.00 at Benchmark

Unity Software (NYSE:U) had its price objective cut by equities research analysts at Benchmark from $16.00 to $10.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. Benchmark’s price target would suggest a potential downside of 35.65% from the stock’s current price.

A number of other equities research analysts have also weighed in on U. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday, May 10th. Stifel Nicolaus lowered their price objective on Unity Software from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Macquarie lowered their price objective on Unity Software from $20.00 to $14.00 and set an “underperform” rating on the stock in a report on Thursday, June 27th. The Goldman Sachs Group lowered their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a report on Friday. Finally, Wedbush lowered their price objective on Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.46.

Unity Software Stock Performance

U stock traded up $1.18 during trading on Friday, hitting $15.54. The company had a trading volume of 35,526,561 shares, compared to its average volume of 9,780,860. The firm has a market cap of $6.07 billion, a PE ratio of -6.94 and a beta of 2.25. Unity Software has a 1-year low of $13.90 and a 1-year high of $43.54. The firm has a 50-day moving average price of $16.33 and a 200-day moving average price of $23.12. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

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

Insiders Place Their Bets

In other Unity Software news, insider Marc Whitten sold 86,768 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the transaction, the insider now owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Marc Whitten sold 86,768 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total value of $1,787,420.80. Following the transaction, the insider now directly owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James M. Whitehurst sold 49,854 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total value of $952,211.40. Following the completion of the transaction, the chairman now directly owns 313,266 shares in the company, valued at $5,983,380.60. 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 in the last quarter. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in U. Harvest Fund Management Co. Ltd purchased a new position in Unity Software in the fourth quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in Unity Software in the fourth quarter valued at about $28,000. Principal Securities Inc. purchased a new position in Unity Software in the fourth quarter valued at about $37,000. Tidemark LLC purchased a new position in Unity Software in the fourth quarter valued at about $39,000. Finally, Tradewinds Capital Management LLC raised its position in Unity Software by 245.6% in the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares during the period. 73.46% of the stock is 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.