Unity Software (NYSE:U) Price Target Cut to $16.00 by Analysts at Jefferies Financial Group

Unity Software (NYSE:U) had its price objective decreased by Jefferies Financial Group from $24.00 to $16.00 in a research report released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Other analysts also recently issued research reports about the stock. Wedbush reissued an “outperform” rating and set a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Friday, February 21st. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. UBS Group upped their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley raised their price objective on Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Unity Software Stock Up 1.8 %

U opened at $17.22 on Monday. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The business has a 50-day moving average of $22.16 and a two-hundred day moving average of $22.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of -10.25 and a beta of 2.31.

Unity Software (NYSE:U) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, research analysts expect that Unity Software will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total value of $3,498,340.33. Following the completion of the transaction, the director now owns 3,481,479 shares in the company, valued at approximately $73,076,244.21. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the sale, the chief accounting officer now directly owns 452,276 shares in the company, valued at approximately $9,909,367.16. This represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 781,903 shares of company stock valued at $17,934,432 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Unity Software in the 4th quarter worth approximately $269,320,000. Slate Path Capital LP acquired a new stake in Unity Software in the fourth quarter worth $62,387,000. Capital International Investors lifted its stake in Unity Software by 10.4% in the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after buying an additional 1,786,032 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Unity Software by 3,843.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after acquiring an additional 1,725,070 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Unity Software by 366.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after acquiring an additional 1,521,165 shares during the last quarter. 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.