Unity Software (NYSE:U) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Unity Software (NYSE:U) from a buy rating to a hold rating in a report issued on Saturday morning.

Other analysts have also recently issued reports about the stock. UBS Group lowered their price target on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. The Goldman Sachs Group lowered their target price on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Oppenheimer raised Unity Software from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Tuesday, February 10th. Benchmark reiterated a “hold” rating on shares of Unity Software in a report on Monday, February 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.52.

Unity Software Stock Performance

Shares of NYSE:U opened at $18.23 on Friday. The firm has a 50 day moving average of $37.16 and a 200 day moving average of $39.12. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -18.98, a price-to-earnings-growth ratio of 9.79 and a beta of 2.04. Unity Software has a 52 week low of $15.33 and a 52 week high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million for the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative return on equity of 4.76% and a negative net margin of 21.77%.The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS. On average, sell-side analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director David Helgason sold 393,312 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $49.64, for a total value of $19,524,007.68. Following the completion of the transaction, the director directly owned 5,439,173 shares of the company’s stock, valued at approximately $270,000,547.72. The trade was a 6.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Bromberg sold 41,025 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total value of $1,697,614.50. Following the completion of the sale, the chief executive officer owned 1,192,541 shares in the company, valued at approximately $49,347,346.58. This represents a 3.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,337,204 shares of company stock worth $63,108,672. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in Unity Software during the third quarter worth $27,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Unity Software during the 2nd quarter worth about $28,000. REAP Financial Group LLC acquired a new stake in shares of Unity Software during the 4th quarter valued at about $28,000. Larson Financial Group LLC increased its stake in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after purchasing an additional 341 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Unity Software in the 4th quarter valued at about $30,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.