Unity Software Inc. (NYSE:U) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Unity Software Inc. (NYSE:U) have been assigned an average rating of “Hold” from the twenty research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $27.22.

A number of equities analysts recently commented on U shares. Wall Street Zen downgraded Unity Software from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Wells Fargo & Company boosted their price target on shares of Unity Software from $19.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Stifel Nicolaus cut their price objective on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. UBS Group lifted their target price on shares of Unity Software from $22.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley cut their price target on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 17th.

Insider Activity

In other Unity Software news, CEO Matthew S. Bromberg sold 133,072 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the completion of the sale, the chief executive officer directly owned 1,222,812 shares of the company’s stock, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the transaction, the director owned 189,089 shares in the company, valued at $5,674,560.89. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,276,809 shares of company stock worth $31,561,623 over the last 90 days. 3.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Unity Software in the fourth quarter valued at $1,151,000. American Century Companies Inc. acquired a new stake in shares of Unity Software in the fourth quarter valued at about $318,000. Sei Investments Co. boosted its holdings in Unity Software by 44.1% during the fourth quarter. Sei Investments Co. now owns 17,922 shares of the company’s stock worth $403,000 after buying an additional 5,486 shares in the last quarter. Vanguard Group Inc. grew its position in Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock worth $699,335,000 after buying an additional 625,872 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in Unity Software by 12.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 41,225 shares of the company’s stock valued at $926,000 after buying an additional 4,639 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Trading Up 2.2%

Shares of NYSE:U opened at $33.48 on Tuesday. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of -29.89 and a beta of 2.29. The business’s 50 day moving average price is $26.60 and its 200-day moving average price is $23.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. Unity Software has a 1 year low of $13.90 and a 1 year high of $38.96.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal 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.