Unity Software (NYSE:U) Cut to “Neutral” at Macquarie

Macquarie lowered shares of Unity Software (NYSE:U) from an outperform rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have $20.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler cut shares of Unity Software from an overweight rating to a neutral rating and lowered their price objective for the company from $48.00 to $30.00 in a research report on Monday, October 23rd. CICC Research assumed coverage on shares of Unity Software in a research report on Monday, August 28th. They issued an outperform rating for the company. Credit Suisse Group lowered their price objective on shares of Unity Software from $66.00 to $61.00 and set an outperform rating for the company in a research report on Thursday, August 3rd. Needham & Company LLC upped their price objective on shares of Unity Software from $44.00 to $50.00 and gave the company a buy rating in a research report on Thursday, August 3rd. Finally, Wedbush restated an outperform rating and issued a $55.00 price objective on shares of Unity Software in a research report on Friday, October 6th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $37.44.

Unity Software Price Performance

U opened at $27.01 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.78. Unity Software has a 12 month low of $22.20 and a 12 month high of $50.08. The company has a fifty day simple moving average of $30.42 and a 200 day simple moving average of $34.40. The stock has a market cap of $10.36 billion, a P/E ratio of -11.64 and a beta of 2.45.

Insider Transactions at Unity Software

In other news, insider Marc Whitten sold 6,200 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $34.44, for a total transaction of $213,528.00. Following the completion of the transaction, the insider now directly owns 667,433 shares in the company, valued at approximately $22,986,392.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Marc Whitten sold 6,200 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $34.44, for a total transaction of $213,528.00. Following the completion of the transaction, the insider now directly owns 667,433 shares in the company, valued at approximately $22,986,392.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $25.29, for a total transaction of $50,580.00. Following the completion of the sale, the chief marketing officer now owns 370,833 shares of the company’s stock, valued at $9,378,366.57. The disclosure for this sale can be found here. Insiders sold a total of 965,003 shares of company stock worth $28,055,237 in the last three months. Insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of U. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Unity Software by 71,678.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,384,703 shares of the company’s stock worth $494,324,000 after purchasing an additional 11,368,842 shares during the period. Norges Bank bought a new stake in shares of Unity Software during the fourth quarter worth approximately $157,766,000. Clearbridge Investments LLC boosted its holdings in shares of Unity Software by 2,365.2% during the first quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock worth $438,545,000 after acquiring an additional 4,241,060 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Unity Software by 17.2% during the first quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock worth $1,714,261,000 after acquiring an additional 2,531,507 shares during the period. Finally, Anatole Investment Management Ltd bought a new stake in shares of Unity Software during the second quarter worth approximately $71,621,000. Institutional investors own 64.74% 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.