Unity Software Inc. (NYSE:U) Given Average Rating of "Hold" by Brokerages

Shares of Unity Software Inc. (NYSE:U - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-one research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.03.

A number of analysts have recently weighed in on U shares. The Goldman Sachs Group increased their price objective on shares of Unity Software from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 9th. Stifel Nicolaus increased their price objective on shares of Unity Software from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. William Blair reiterated an "outperform" rating on shares of Unity Software in a research note on Tuesday, January 9th. Barclays dropped their price target on shares of Unity Software from $30.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 27th. Finally, Piper Sandler upgraded shares of Unity Software from an "underweight" rating to a "neutral" rating and dropped their price target for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th.

Insiders Place Their Bets

In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.58, for a total transaction of $53,160.00. Following the transaction, the chief marketing officer now directly owns 444,617 shares of the company's stock, valued at $11,817,919.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of Unity Software stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.58, for a total transaction of $53,160.00. Following the completion of the sale, the chief marketing officer now directly owns 444,617 shares in the company, valued at $11,817,919.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Anirma Gupta sold 756 shares of Unity Software stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $33.07, for a total transaction of $25,000.92. Following the completion of the transaction, the senior vice president now owns 396,985 shares of the company's stock, valued at approximately $13,128,293.95. The disclosure for this sale can be found here. Insiders have sold 341,723 shares of company stock valued at $9,577,516 over the last ninety days. Company insiders own 9.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Unity Software by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 26,128,209 shares of the company's stock valued at $1,068,382,000 after purchasing an additional 308,412 shares during the last quarter. ARK Investment Management LLC raised its position in Unity Software by 6.2% in the 4th quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company's stock valued at $498,440,000 after purchasing an additional 712,579 shares during the last quarter. Norges Bank purchased a new stake in Unity Software in the 4th quarter valued at $379,180,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Unity Software by 14.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,131,625 shares of the company's stock valued at $373,392,000 after purchasing an additional 1,170,058 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its position in Unity Software by 15.9% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,539,489 shares of the company's stock valued at $349,094,000 after purchasing an additional 1,169,841 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Down 4.4 %

NYSE:U traded down $1.18 during midday trading on Wednesday, reaching $25.90. 6,211,505 shares of the stock traded hands, compared to its average volume of 10,510,484. The business has a 50-day moving average of $29.06 and a two-hundred day moving average of $30.95. The stock has a market capitalization of $10.00 billion, a PE ratio of -11.99 and a beta of 2.42. Unity Software has a 12-month low of $22.20 and a 12-month high of $50.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to analysts' expectations of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The company's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.50) EPS. On average, equities analysts forecast that Unity Software will post -0.63 earnings per share for the current fiscal year.

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.