The Goldman Sachs Group Lowers Unity Software (NYSE:U) Price Target to $26.00

Unity Software (NYSE:U - Free Report) had its target price lowered by The Goldman Sachs Group from $29.00 to $26.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Benchmark reiterated a sell rating and issued a $16.00 price objective on shares of Unity Software in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Unity Software from $32.00 to $35.00 and gave the stock a buy rating in a research report on Friday, March 1st. Piper Sandler raised shares of Unity Software from an underweight rating to a neutral rating and decreased their target price for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. Wedbush reiterated an outperform rating and set a $33.50 price target on shares of Unity Software in a research report on Friday. Finally, Citigroup lowered their price objective on shares of Unity Software from $50.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $35.38.

Unity Software Stock Up 4.6 %

Shares of NYSE:U traded up $0.99 during midday trading on Monday, hitting $22.69. The stock had a trading volume of 12,220,548 shares, compared to its average volume of 9,774,150. 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 business's 50-day simple moving average is $25.47 and its 200-day simple moving average is $30.19. Unity Software has a 12 month low of $21.60 and a 12 month high of $50.08. The company has a market cap 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 announced its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.89). The business had revenue of $609.27 million for the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.50) EPS. On average, sell-side analysts forecast that Unity Software will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Unity Software news, SVP Felix The sold 4,374 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $32.55, for a total transaction of $142,373.70. Following the completion of the sale, the senior vice president now directly owns 298,948 shares of the company's stock, valued at approximately $9,730,757.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Unity Software news, CEO James M. Whitehurst sold 44,091 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $32.56, for a total value of $1,435,602.96. Following the completion of the sale, the chief executive officer now directly owns 155,909 shares of the company's stock, valued at $5,076,397.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Felix The sold 4,374 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.55, for a total value of $142,373.70. Following the completion of the sale, the senior vice president now owns 298,948 shares in the company, valued at $9,730,757.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 338,917 shares of company stock worth $9,460,820. Insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in U. Norges Bank purchased a new stake in shares of Unity Software in the fourth quarter worth $379,180,000. Capital Research Global Investors boosted its position in shares of Unity Software by 510.2% during the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company's stock valued at $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 purchasing an additional 2,787,058 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company's stock worth $317,984,000 after purchasing an additional 2,777,884 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in Unity Software in the third quarter valued at approximately $82,988,000. 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.