Unity Software (NYSE:U) Price Target Cut to $30.00 by Analysts at Needham & Company LLC

Unity Software (NYSE:U - Free Report) had its target price lowered by Needham & Company LLC from $33.00 to $30.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

U has been the subject of a number of other reports. Hsbc Global Res upgraded shares of Unity Software to a "strong-buy" rating in a research report on Friday, February 21st. Wedbush restated an "outperform" rating and set a $31.50 price objective on shares of Unity Software in a research report on Wednesday, April 30th. Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Macquarie started coverage on shares of Unity Software in a research report on Monday, March 10th. They set a "neutral" rating and a $24.00 price objective for the company. Finally, Morgan Stanley decreased their target price on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Unity Software has an average rating of "Hold" and a consensus target price of $24.21.

Unity Software Stock Up 0.1%

NYSE U traded up $0.02 during trading hours on Thursday, hitting $21.86. 6,676,112 shares of the company traded hands, compared to its average volume of 10,951,707. The business's 50-day moving average is $20.57 and its 200-day moving average is $22.02. Unity Software has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of -13.01 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $435.00 million during the quarter, compared to analysts' expectations of $415.77 million. During the same quarter last year, the company posted $0.28 earnings per share. Unity Software's quarterly revenue was down 5.5% on a year-over-year basis. Sell-side analysts anticipate that Unity Software will post -1.25 earnings per share for the current year.

Insider Buying and Selling

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $21.59, for a total value of $3,598,340.53. Following the completion of the sale, the director now directly owns 2,814,812 shares of the company's stock, valued at approximately $60,771,791.08. This represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Helgason sold 38,924 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 782,231 shares of company stock worth $18,033,528 in the last quarter. Insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Unity Software

A number of institutional investors have recently added to or reduced their stakes in U. Lord Abbett & CO. LLC bought a new position in shares of Unity Software during the 1st quarter valued at approximately $11,956,000. FengHe Fund Management Pte. Ltd. boosted its holdings in Unity Software by 67.6% in the 1st quarter. FengHe Fund Management Pte. Ltd. now owns 365,600 shares of the company's stock worth $7,162,000 after buying an additional 147,500 shares during the period. Nuveen LLC bought a new position in Unity Software in the 1st quarter worth approximately $25,520,000. Aigen Investment Management LP bought a new position in Unity Software in the 1st quarter worth approximately $488,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Unity Software by 43.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,773,157 shares of the company's stock worth $54,326,000 after buying an additional 837,026 shares during the period. 73.46% of the stock is owned by institutional investors.

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.