Unity Software (NYSE:U) Stock Price Down 8.2% – What’s Next?

Unity Software Inc. (NYSE:U) traded down 8.2% on Tuesday . The company traded as low as $26.90 and last traded at $26.4550. 1,996,818 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 12,091,689 shares. The stock had previously closed at $28.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of Unity Software in a research note on Monday. UBS Group lifted their target price on shares of Unity Software from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Freedom Capital upgraded shares of Unity Software to a “strong-buy” rating in a research report on Thursday, January 15th. Macquarie raised shares of Unity Software from a “neutral” rating to an “outperform” rating and raised their price target for the company from $33.00 to $50.00 in a research note on Friday, November 7th. Finally, Needham & Company LLC boosted their price objective on Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.27.

Unity Software Stock Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. The firm has a market cap of $9.88 billion, a PE ratio of -21.99, a P/E/G ratio of 27.12 and a beta of 2.04. The stock has a 50-day moving average price of $43.04 and a 200 day moving average price of $40.13.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The business had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same period in the prior year, the firm posted ($0.31) EPS. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In related news, CAO Mark Barrysmith sold 14,407 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total transaction of $720,494.07. Following the completion of the sale, the chief accounting officer owned 394,479 shares of the company’s stock, valued at approximately $19,727,894.79. This represents a 3.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Helgason sold 8,347 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.16, for a total transaction of $410,338.52. Following the completion of the transaction, the director owned 7,635 shares in the company, valued at $375,336.60. The trade was a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,382,935 shares of company stock valued at $65,062,248 over the last three months. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of U. GAMMA Investing LLC raised its stake in shares of Unity Software by 10.8% during the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after purchasing an additional 288 shares during the period. Newbridge Financial Services Group Inc. increased its stake in Unity Software by 12.9% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock worth $108,000 after buying an additional 308 shares during the period. Xponance Inc. lifted its holdings in Unity Software by 1.8% in the 3rd quarter. Xponance Inc. now owns 18,291 shares of the company’s stock worth $732,000 after buying an additional 328 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after buying an additional 341 shares in the last quarter. Finally, Allworth Financial LP boosted its position in Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after buying an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.