Unity Software (NYSE:U) Shares Down 3.9% Following Analyst Downgrade

Unity Software (NYSE:U) Shares Down 3.9% Following Analyst Downgrade

Unity Software logoShares of Unity Software Inc. (NYSE:U – Get Rating) were down 3.9% on Friday after Barclays lowered their price target on the stock from $32.00 to $31.00. The stock traded as low as $31.21 and last traded at $31.21. Approximately 1,570,441 shares changed hands during trading, a decline of 84% from the average daily volume of 9,556,626 shares. The stock had previously closed at $32.46.

A number of other brokerages have also weighed in on U. DA Davidson lifted their price objective on Unity Software from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Piper Sandler upped their price objective on Unity Software from $33.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Citigroup dropped their price objective on Unity Software from $54.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Jefferies Financial Group lowered Unity Software from a “hold” rating to an “underperform” rating and set a $19.00 price target for the company. in a research note on Thursday, January 12th. Finally, The Goldman Sachs Group increased their price target on Unity Software from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating for the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.06.

Insider Transactions at Unity Software

In other news, SVP Marc Whitten sold 3,889 shares of Unity Software stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $30.27, for a total transaction of $117,720.03. Following the completion of the sale, the senior vice president now owns 677,682 shares in the company, valued at approximately $20,513,434.14. The sale was disclosed in a filing with the SEC, which can be accessed via this link. In other Unity Software news, SVP Marc Whitten sold 3,889 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $30.27, for a total value of $117,720.03. Following the transaction, the senior vice president now directly owns 677,682 shares of the company’s stock, valued at approximately $20,513,434.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tomer Bar-Zeev sold 37,500 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $32.13, for a total transaction of $1,204,875.00. Following the completion of the sale, the insider now owns 1,763,959 shares in the company, valued at $56,676,002.67. The disclosure for this sale can be found here. In the last three months, insiders sold 155,328 shares of company stock valued at $4,926,866. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Unity Software

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Institutional investors have recently added to or reduced their stakes in the business. Romano Brothers AND Company purchased a new stake in Unity Software in the fourth quarter worth approximately $25,000. Ellevest Inc. raised its holdings in Unity Software by 133.2% in the fourth quarter. Ellevest Inc. now owns 1,005 shares of the company’s stock worth $29,000 after purchasing an additional 574 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Unity Software by 2,000.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,050 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. Bessemer Group Inc. bought a new position in Unity Software in the first quarter worth $33,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Unity Software during the fourth quarter valued at $37,000. 82.50% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average price of $28.81 and a two-hundred day moving average price of $31.17. The stock has a market capitalization of $8.92 billion, a P/E ratio of -10.05 and a beta of 2.16.

Unity Software (NYSE:U – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.24). The firm had revenue of $450.97 million during the quarter, compared to analysts’ expectations of $433.25 million. Unity Software had a negative return on equity of 25.70% and a negative net margin of 66.21%. On average, analysts expect that Unity Software Inc. will post -1.46 EPS for the current year.

About Unity Software

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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.

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