Shares of Unity Software Inc. (NYSE:U – Get Free Report) fell 3% during mid-day trading on Wednesday . The stock traded as low as $15.76 and last traded at $15.77. 470,493 shares were traded during mid-day trading, a decline of 95% from the average session volume of 9,787,098 shares. The stock had previously closed at $16.25.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Friday, May 10th. Stifel Nicolaus dropped their price target on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wedbush reduced their price objective on Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC decreased their target price on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Benchmark cut their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.46.
Unity Software Price Performance
The company has a 50-day moving average of $16.24 and a 200-day moving average of $22.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of -7.05 and a beta of 2.25.
Unity Software (NYSE:U – Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 11.68%. Unity Software’s revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.26) EPS. As a group, equities research analysts predict that Unity Software Inc. will post -1.81 earnings per share for the current year.
Insiders Place Their Bets
In related news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Unity Software news, CFO Luis Felipe Visoso sold 42,718 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total value of $815,913.80. Following the sale, the chief financial officer now owns 1,598,345 shares of the company’s stock, valued at $30,528,389.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,005 shares of company stock worth $4,798,048. 6.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in U. Vanguard Group Inc. raised its stake in Unity Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after purchasing an additional 208,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after purchasing an additional 2,777,884 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after buying an additional 2,787,058 shares during the last quarter. Norges Bank acquired a new position in Unity Software during the 4th quarter worth $379,180,000. Finally, Capital Research Global Investors increased its holdings in Unity Software by 18.7% in the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after buying an additional 1,342,787 shares during the last quarter. Institutional investors and hedge funds 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.