Unity Software (NYSE:U) Price Target Cut to $12.00 by Analysts at Macquarie

Unity Software (NYSE:U) had its price objective decreased by Macquarie from $14.00 to $12.00 in a research report report published on Friday morning, Benzinga reports. Macquarie currently has an underperform rating on the stock.

A number of other brokerages also recently commented on U. Benchmark reduced their target price on shares of Unity Software from $16.00 to $10.00 and set a sell rating on the stock in a research note on Friday. Barclays reduced their price target on shares of Unity Software from $28.00 to $27.00 and set an equal weight rating on the stock in a research report on Friday, May 10th. JMP Securities reiterated a market perform rating on shares of Unity Software in a research report on Friday, May 10th. Needham & Company LLC restated a buy rating and issued a $31.00 target price on shares of Unity Software in a research report on Friday, May 10th. Finally, Stifel Nicolaus decreased their price target on Unity Software from $25.00 to $20.00 and set a buy rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $26.46.

Unity Software Price Performance

Shares of U stock traded up $1.18 during trading hours on Friday, reaching $15.54. The company had a trading volume of 35,526,561 shares, compared to its average volume of 9,780,860. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -6.94 and a beta of 2.25. The stock has a fifty day moving average of $16.33 and a 200-day moving average of $23.12.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The company had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. On average, equities analysts anticipate that Unity Software will post -1.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares in the company, valued at $6,851,604.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marc Whitten sold 86,768 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the transaction, the insider now owns 2,483 shares in the company, valued at approximately $51,149.80. The disclosure for this sale can be found here. Insiders sold a total of 245,005 shares of company stock worth $4,798,048 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in U. Norges Bank acquired a new stake in shares of Unity Software during the fourth quarter worth about $379,180,000. Capital International Investors grew its holdings in Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after purchasing an additional 6,376,034 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after acquiring an additional 6,004,655 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Unity Software by 32.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after buying an additional 2,787,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Unity Software by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after buying an additional 2,777,884 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.