Morgan Stanley Issues Pessimistic Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price objective cut by equities research analysts at Morgan Stanley from $32.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 30.24% from the company’s current price.

A number of other research analysts have also weighed in on U. Wedbush reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. Citizens Jmp raised Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.96.

Unity Software Stock Performance

Shares of U opened at $19.20 on Thursday. The company has a 50-day simple moving average of $21.53 and a two-hundred day simple moving average of $22.01. 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 firm has a market capitalization of $7.86 billion, a PE ratio of -11.43 and a beta of 2.31. Unity Software has a one year low of $13.90 and a one year high of $30.88.

Unity Software (NYSE:U) last released 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 company had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, Director David Helgason sold 38,924 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the completion of the sale, the director now owns 7,828,494 shares of the company’s stock, valued at $210,743,058.48. The trade was a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Anirma Gupta sold 31,948 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the completion of the transaction, the senior vice president now directly owns 542,942 shares in the company, valued at approximately $13,698,426.66. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 782,231 shares of company stock valued at $17,933,528. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Unity Software by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock worth $106,008,000 after buying an additional 413,474 shares in the last quarter. Tidal Investments LLC grew its position in shares of Unity Software by 4.9% during the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock worth $349,000 after purchasing an additional 723 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in Unity Software during the 3rd quarter valued at approximately $728,000. Versant Capital Management Inc lifted its holdings in Unity Software by 186.9% in the 4th quarter. Versant Capital Management Inc now owns 2,812 shares of the company’s stock worth $63,000 after purchasing an additional 1,832 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after buying an additional 411 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

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.