Unity Software (NYSE:U) Stock Rating Lowered by BTIG Research

Unity Software (NYSE:U - Get Free Report) was downgraded by equities research analysts at BTIG Research from a "neutral" rating to a "sell" rating in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $25.00 target price on the stock. BTIG Research's price target would suggest a potential downside of 23.58% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley reduced 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. UBS Group upped their price target on shares of Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company upped their price target on shares of Unity Software from $19.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Stifel Nicolaus reduced their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wedbush upped their price objective on Unity Software from $31.50 to $39.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.22.

Unity Software Trading Down 1.9%

Shares of U stock traded down $0.63 on Wednesday, reaching $32.71. 7,931,270 shares of the stock were exchanged, compared to its average volume of 15,723,192. The stock has a market cap of $13.60 billion, a PE ratio of -29.21 and a beta of 2.29. Unity Software has a one year low of $13.90 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a 50 day moving average price of $26.38 and a 200 day moving average price of $23.25.

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

Insider Activity

In other Unity Software news, Director David Helgason sold 261,473 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the sale, the director owned 7,489,173 shares in the company, valued at $192,471,746.10. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew S. Bromberg sold 133,072 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $2,826,449.28. Following the completion of the sale, the chief executive officer owned 1,222,812 shares in the company, valued at $25,972,526.88. This represents a 9.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,276,809 shares of company stock valued at $31,561,623. Corporate insiders own 3.61% of the company's stock.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Unity Software during the fourth quarter worth approximately $269,320,000. Atreides Management LP increased its stake in shares of Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after purchasing an additional 5,607,572 shares during the period. Slate Path Capital LP bought a new position in Unity Software during the 4th quarter worth $62,387,000. Broad Peak Investment Advisers Pte Ltd bought a new position in Unity Software during the 1st quarter worth $47,648,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Unity Software during the 1st quarter worth $43,265,000. Institutional investors own 73.46% of the company's stock.

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.