Unity Software (NYSE:U) Sets New 1-Year Low on Analyst Downgrade

Unity Software Inc. (NYSE:U - Get Free Report) hit a new 52-week low on Monday after The Goldman Sachs Group lowered their price target on the stock from $29.00 to $26.00. The Goldman Sachs Group currently has a neutral rating on the stock. Unity Software traded as low as $21.60 and last traded at $22.83, with a volume of 2524622 shares changing hands. The stock had previously closed at $21.69.

A number of other research analysts have also weighed in on the company. Citigroup reduced their target price on Unity Software from $50.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, February 28th. JMP Securities reaffirmed a "market perform" rating on shares of Unity Software in a report on Friday. Wedbush reaffirmed an "outperform" rating and set a $33.50 target price on shares of Unity Software in a report on Friday. Barclays reduced their target price on Unity Software from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 target price on shares of Unity Software in a report on Friday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.38.

Insiders Place Their Bets

In other news, insider Marc Whitten sold 7,232 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.56, for a total transaction of $235,473.92. Following the completion of the sale, the insider now owns 989,707 shares of the company's stock, valued at $32,224,859.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Marc Whitten sold 7,232 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.56, for a total transaction of $235,473.92. Following the completion of the sale, the insider now owns 989,707 shares of the company's stock, valued at $32,224,859.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Luis Felipe Visoso sold 11,756 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $32.55, for a total value of $382,657.80. Following the sale, the chief financial officer now directly owns 1,100,133 shares of the company's stock, valued at approximately $35,809,329.15. The disclosure for this sale can be found here. Insiders sold a total of 338,917 shares of company stock valued at $9,460,820 over the last quarter. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC raised its holdings in Unity Software by 245.6% in the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company's stock worth $26,000 after purchasing an additional 700 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Unity Software during the fourth quarter valued at $27,000. Huntington National Bank increased its holdings in shares of Unity Software by 665.0% during the third quarter. Huntington National Bank now owns 895 shares of the company's stock valued at $28,000 after acquiring an additional 778 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Unity Software during the fourth quarter valued at $28,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Unity Software by 2,429.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company's stock valued at $28,000 after acquiring an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Price Performance

The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $25.47 and a two-hundred day moving average price of $30.19. The stock has a market capitalization of $8.87 billion, a P/E ratio of -10.13 and a beta of 2.40.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The company had revenue of $609.27 million for the quarter, compared to the consensus estimate of $551.01 million. During the same quarter in the previous year, the business earned ($0.50) earnings per share. Unity Software's revenue was up 35.1% compared to the same quarter last year. On average, analysts expect that Unity Software Inc. will post -0.63 EPS for the current year.

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.