Unity Software (NYSE:U) Cut to Neutral at Daiwa Capital Markets

Daiwa Capital Markets cut shares of Unity Software (NYSE:UGet Rating) from an outperform rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $34.00 target price on the stock, down from their prior target price of $110.00.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Unity Software in a report on Tuesday, March 8th. They set a hold rating and a $100.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of Unity Software from $154.00 to $137.00 and set a buy rating on the stock in a research note on Thursday, April 14th. BTIG Research dropped their price target on shares of Unity Software from $171.00 to $154.00 in a research note on Friday, February 4th. Citigroup initiated coverage on shares of Unity Software in a research note on Thursday, April 7th. They issued a buy rating and a $125.00 price target on the stock. Finally, Oppenheimer dropped their price target on shares of Unity Software from $185.00 to $135.00 in a research note on Friday, February 4th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $118.92.

NYSE:U opened at $39.10 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.44 and a quick ratio of 3.44. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of -18.62 and a beta of 2.64. The company has a 50 day moving average price of $81.74 and a 200-day moving average price of $115.94. Unity Software has a 1-year low of $29.09 and a 1-year high of $210.00.

Unity Software (NYSE:UGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $320.13 million during the quarter, compared to analyst estimates of $321.17 million. Unity Software had a negative net margin of 50.40% and a negative return on equity of 21.11%. The business’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) EPS. On average, sell-side analysts anticipate that Unity Software will post -1.55 earnings per share for the current fiscal year.

In related news, SVP Marc Whitten sold 3,433 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $65.54, for a total value of $224,998.82. Following the completion of the transaction, the senior vice president now directly owns 270,798 shares of the company’s stock, valued at $17,748,100.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Helgason sold 83,333 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $101.31, for a total value of $8,442,466.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,824 shares of company stock valued at $10,026,399. Corporate insiders own 19.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in U. Thrive Capital Management LLC acquired a new position in Unity Software in the third quarter valued at approximately $307,805,000. Morgan Stanley boosted its holdings in shares of Unity Software by 170.7% in the second quarter. Morgan Stanley now owns 9,302,677 shares of the company’s stock valued at $1,021,713,000 after acquiring an additional 5,865,923 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Unity Software by 3.4% in the third quarter. PNC Financial Services Group Inc. now owns 2,794 shares of the company’s stock valued at $352,000 after acquiring an additional 93 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Unity Software by 39.1% in the third quarter. Advisory Services Network LLC now owns 2,703 shares of the company’s stock valued at $341,000 after acquiring an additional 760 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Unity Software by 31.1% in the third quarter. Russell Investments Group Ltd. now owns 5,979 shares of the company’s stock valued at $753,000 after acquiring an additional 1,417 shares during the period. 75.48% of the stock is owned by hedge funds and other institutional investors.

About Unity Software (Get Rating)

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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