Unity Software (NYSE:U) PT Lowered to $21.00

Unity Software (NYSE:U) had its target price decreased by equities research analysts at Wedbush from $33.50 to $21.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target points to a potential upside of 35.14% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research report on Friday. Macquarie cut their price objective on shares of Unity Software from $20.00 to $14.00 and set an “underperform” rating on the stock in a report on Thursday, June 27th. Barclays cut their price objective on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Stifel Nicolaus cut their price objective on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Finally, Benchmark restated a “sell” rating and issued a $16.00 price objective on shares of Unity Software in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Unity Software presently has a consensus rating of “Hold” and a consensus price target of $26.46.

Unity Software Trading Up 8.2 %

Shares of NYSE U traded up $1.18 during midday trading on Friday, hitting $15.54. 35,526,561 shares of the company traded hands, compared to its average volume of 9,780,860. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a 50-day moving average price of $16.33 and a 200 day moving average price of $23.12. The firm has a market cap of $6.07 billion, a P/E ratio of -6.94 and a beta of 2.25.

Unity Software (NYSE:U) last announced 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. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The company had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter in the previous year, the company earned ($0.26) earnings per share. Unity Software’s quarterly revenue was down 15.8% on a year-over-year basis. As a group, analysts expect that Unity Software will post -1.81 earnings per share for the current year.

Insider Transactions at Unity Software

In related news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the transaction, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the transaction, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Carol W. Carpenter sold 18,775 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total transaction of $358,602.50. Following the transaction, the chief marketing officer now owns 423,842 shares in the company, valued at approximately $8,095,382.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 245,005 shares of company stock worth $4,798,048. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new stake in Unity Software during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in Unity Software during the fourth quarter valued at approximately $28,000. Principal Securities Inc. purchased a new stake in Unity Software during the fourth quarter valued at approximately $37,000. Tidemark LLC purchased a new stake in Unity Software during the fourth quarter valued at approximately $39,000. Finally, Tradewinds Capital Management LLC increased its holdings in Unity Software by 245.6% during the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after buying an additional 700 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.