The Goldman Sachs Group Lowers Unity Software (NYSE:U) Price Target to $29.00

Unity Software (NYSE:U) had its price objective reduced by analysts at The Goldman Sachs Group from $45.00 to $29.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 0.62% from the stock’s previous close.

A number of other equities research analysts have also weighed in on U. Stifel Nicolaus lowered their price target on shares of Unity Software from $40.00 to $28.00 and set a “buy” rating for the company in a report on Friday, November 10th. Oppenheimer restated a “market perform” rating on shares of Unity Software in a report on Friday, September 15th. Citigroup reaffirmed a “buy” rating and set a $49.00 price objective on shares of Unity Software in a report on Tuesday, October 10th. Morgan Stanley reduced their price target on shares of Unity Software from $40.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, November 10th. Finally, Cannonball Research initiated coverage on shares of Unity Software in a research note on Monday, September 18th. They issued a “neutral” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Unity Software has an average rating of “Hold” and a consensus price target of $36.44.

Unity Software Stock Performance

NYSE:U opened at $29.18 on Monday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $30.05 and a two-hundred day simple moving average of $34.42. The company has a market cap of $11.19 billion, a price-to-earnings ratio of -12.58 and a beta of 2.45. Unity Software has a 52 week low of $22.20 and a 52 week high of $50.08.

Insiders Place Their Bets

In related news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $25.29, for a total transaction of $50,580.00. Following the sale, the chief marketing officer now directly owns 370,833 shares in the company, valued at $9,378,366.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Carol W. Carpenter sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $25.29, for a total value of $50,580.00. Following the completion of the transaction, the chief marketing officer now owns 370,833 shares of the company’s stock, valued at $9,378,366.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Luis Felipe Visoso sold 9,370 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $34.45, for a total transaction of $322,796.50. Following the completion of the transaction, the chief financial officer now directly owns 715,958 shares of the company’s stock, valued at approximately $24,664,753.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 965,003 shares of company stock worth $28,055,237. Company insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Corton Capital Inc. bought a new position in Unity Software during the third quarter worth about $204,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Unity Software in the third quarter worth about $696,000. Tower Research Capital LLC TRC lifted its holdings in shares of Unity Software by 1,995.2% in the third quarter. Tower Research Capital LLC TRC now owns 4,337 shares of the company’s stock worth $136,000 after buying an additional 4,130 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Unity Software in the third quarter worth about $36,257,000. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Unity Software by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 126,250 shares of the company’s stock worth $3,963,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds 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.