BTIG Research Upgrades Unity Software (NYSE:U) to Neutral

Unity Software (NYSE:U) was upgraded by equities research analysts at BTIG Research from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

Several other equities analysts also recently issued reports on U. Deutsche Bank Aktiengesellschaft assumed coverage on Unity Software in a research report on Wednesday, October 22nd. They issued a “hold” rating and a $39.00 price objective for the company. HSBC cut Unity Software from a “buy” rating to a “hold” rating and lifted their price target for the company from $37.50 to $40.80 in a report on Tuesday, September 30th. UBS Group upped their price target on shares of Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Hsbc Global Res cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, Citigroup upped their price objective on Unity Software from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.10.

Unity Software Price Performance

Shares of NYSE:U opened at $37.90 on Friday. The firm has a market capitalization of $16.01 billion, a PE ratio of -35.75 and a beta of 2.32. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software has a 1-year low of $15.33 and a 1-year high of $46.94. The business’s 50 day moving average is $40.09 and its 200-day moving average is $31.54.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. During the same period last year, the company earned ($0.32) EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total value of $9,957,500.00. Following the transaction, the director directly owned 1,548,146 shares of the company’s stock, valued at $61,662,655.18. This represents a 13.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Anirma Gupta sold 2,734 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $37.85, for a total transaction of $103,481.90. Following the sale, the senior vice president owned 175,510 shares of the company’s stock, valued at approximately $6,643,053.50. This represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,186,951 shares of company stock valued at $93,504,159. Company insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Unity Software by 72.5% in the 1st quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock worth $55,000 after purchasing an additional 1,186 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Unity Software by 3.0% during the first quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock worth $355,000 after purchasing an additional 525 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Unity Software in the first quarter valued at approximately $27,902,000. Principal Financial Group Inc. boosted its stake in shares of Unity Software by 1,321.3% in the first quarter. Principal Financial Group Inc. now owns 296,975 shares of the company’s stock valued at $5,818,000 after buying an additional 276,081 shares during the period. Finally, Penserra Capital Management LLC grew its position in Unity Software by 8.3% during the first quarter. Penserra Capital Management LLC now owns 44,785 shares of the company’s stock worth $877,000 after buying an additional 3,450 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.