Unity Software (NYSE:U) Trading Down 4.1% After Analyst Downgrade

Unity Software Inc. (NYSE:U) shares dropped 4.1% during trading on Monday after UBS Group lowered their price target on the stock from $30.00 to $22.00. UBS Group currently has a neutral rating on the stock. Unity Software traded as low as $18.43 and last traded at $18.44. Approximately 2,374,066 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 10,853,603 shares. The stock had previously closed at $19.23.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company dropped their target price on Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Wedbush reissued an “outperform” rating and set a $27.00 price objective on shares of Unity Software in a research note on Thursday, February 13th. Macquarie began coverage on shares of Unity Software in a report on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price on the stock. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.46.

Insider Buying and Selling

In other news, CAO Mark Barrysmith sold 1,362 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the sale, the chief accounting officer now owns 452,276 shares of the company’s stock, valued at $9,909,367.16. This trade represents a 0.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Anirma Gupta sold 31,948 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $25.23, for a total transaction of $806,048.04. Following the transaction, the senior vice president now directly owns 542,942 shares of the company’s stock, valued at $13,698,426.66. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 781,903 shares of company stock worth $17,934,432 in the last three months. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently modified their holdings of the company. Anderson Financial Strategies LLC bought a new position in Unity Software in the fourth quarter valued at about $28,000. R Squared Ltd purchased a new stake in shares of Unity Software during the 4th quarter valued at about $30,000. Principal Securities Inc. lifted its stake in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after purchasing an additional 477 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Unity Software in the fourth quarter worth approximately $36,000. Finally, GAMMA Investing LLC grew its position in Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after buying an additional 411 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Trading Down 5.4 %

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 firm has a market capitalization of $7.45 billion, a PE ratio of -10.83 and a beta of 2.31. The stock’s fifty day simple moving average is $21.65 and its 200 day simple moving average is $22.09.

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

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.