Unity Software (NYSE:U) Price Target Cut to $14.00

Unity Software (NYSE:U) had its price objective dropped by Macquarie from $20.00 to $14.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Macquarie’s price target would indicate a potential downside of 13.74% from the company’s previous close.

Several other equities analysts also recently weighed in on U. Wedbush reaffirmed an “outperform” rating and set a $33.50 price target on shares of Unity Software in a report on Friday, May 10th. Benchmark reiterated a “sell” rating and set a $16.00 price objective on shares of Unity Software in a research report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $31.00 price objective on shares of Unity Software in a research report on Friday, May 10th. Barclays reduced their price objective on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $33.47.

Unity Software Stock Down 1.9 %

NYSE:U opened at $16.23 on Thursday. The firm has a market cap of $6.34 billion, a P/E ratio of -7.25 and a beta of 2.28. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. Unity Software has a fifty-two week low of $15.23 and a fifty-two week high of $50.08. The firm has a 50-day simple moving average of $20.10 and a two-hundred day simple moving average of $27.69.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.13. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The firm had revenue of $460.38 million during the quarter, compared to analyst estimates of $422.53 million. Analysts predict that Unity Software will post -1.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.58, for a total transaction of $53,160.00. Following the completion of the sale, the chief marketing officer now directly owns 444,617 shares of the company’s stock, valued at approximately $11,817,919.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unity Software news, insider Marc Whitten sold 86,768 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the sale, the insider now owns 2,483 shares in the company, valued at $51,149.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Carol W. Carpenter sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.58, for a total value of $53,160.00. Following the completion of the transaction, the chief marketing officer now directly owns 444,617 shares in the company, valued at approximately $11,817,919.86. The disclosure for this sale can be found here. Insiders sold 247,736 shares of company stock valued at $4,885,280 in the last three months. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently bought and sold shares of the stock. Tradewinds Capital Management LLC lifted its stake in shares of Unity Software by 245.6% during the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Unity Software during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC bought a new position in shares of Unity Software during the fourth quarter valued at approximately $28,000. Benjamin F. Edwards & Company Inc. grew its holdings in Unity Software by 2,429.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock worth $28,000 after buying an additional 996 shares in the last quarter. Finally, Pacifica Partners Inc. bought a new position in Unity Software in the 4th quarter worth approximately $33,000. 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.