Unity Software (NYSE:U) Stock Price Down 10.7% – What’s Next?

Unity Software Inc. (NYSE:U)’s stock price traded down 10.7% on Tuesday . The company traded as low as $24.44 and last traded at $24.36. 15,882,472 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 12,291,691 shares. The stock had previously closed at $27.28.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company upped their target price on Unity Software from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $27.00 price target on shares of Unity Software in a report on Thursday, February 13th. Finally, Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Unity Software presently has an average rating of “Hold” and an average price target of $25.96.

Unity Software Price Performance

The company has a 50-day moving average of $22.58 and a 200 day moving average of $21.27. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $10.15 billion, a PE ratio of -15.05 and a beta of 2.32.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Sell-side analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

Insider Transactions at Unity Software

In other news, Director Tomer Bar-Zeev sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the completion of the transaction, the director now owns 3,398,146 shares of the company’s stock, valued at approximately $86,448,834.24. This trade represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Felix The sold 20,000 shares of Unity Software stock in a transaction on Friday, December 6th. The shares were sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the transaction, the senior vice president now owns 391,960 shares of the company’s stock, valued at approximately $10,751,462.80. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 742,766 shares of company stock worth $18,248,777. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Unity Software in the fourth quarter valued at about $30,000. Principal Securities Inc. lifted its position in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after acquiring an additional 477 shares during the period. Planning Capital Management Corp acquired a new position in Unity Software in the 3rd quarter valued at $34,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Unity Software during the fourth quarter worth about $36,000. 73.46% of the stock is owned by institutional investors and hedge funds.

About Unity Software

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.