Unity Software (NYSE:U) Stock Price Down 4.7% After Analyst Downgrade

Unity Software Inc. (NYSE:U - Get Free Report)'s share price was down 4.7% on Friday after Barclays lowered their price target on the stock from $28.00 to $27.00. Barclays currently has an equal weight rating on the stock. Unity Software traded as low as $22.93 and last traded at $23.03. Approximately 5,129,583 shares were traded during trading, a decline of 46% from the average daily volume of 9,484,511 shares. The stock had previously closed at $24.16.

Other research analysts have also recently issued reports about the stock. Citigroup decreased their price objective on shares of Unity Software from $50.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, February 28th. Needham & Company LLC restated a "buy" rating and set a $31.00 price target on shares of Unity Software in a report on Friday. Piper Sandler raised shares of Unity Software from an "underweight" rating to a "neutral" rating and cut their price objective for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. Macquarie lowered Unity Software from a "neutral" rating to an "underperform" rating and set a $20.00 price objective on the stock. in a report on Monday, February 12th. Finally, Benchmark restated a "sell" rating and set a $16.00 target price on shares of Unity Software in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.74.

Insider Buying and Selling at Unity Software

In related news, SVP Anirma Gupta sold 1,037 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $24.42, for a total value of $25,323.54. Following the sale, the senior vice president now owns 386,706 shares in the company, valued at approximately $9,443,360.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction on Monday, April 29th. The stock was sold at an average price of $24.42, for a total transaction of $25,323.54. Following the completion of the sale, the senior vice president now owns 386,706 shares of the company's stock, valued at $9,443,360.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Felix The sold 4,374 shares of the 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 transaction, the senior vice president now owns 298,948 shares in the company, valued at approximately $9,730,757.40. The disclosure for this sale can be found here. In the last three months, 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 and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its holdings in shares of Unity Software by 4.8% during the third quarter. Northern Trust Corp now owns 1,583,326 shares of the company's stock worth $49,701,000 after purchasing an additional 72,770 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in Unity Software by 3.2% in the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company's stock valued at $415,000 after acquiring an additional 407 shares during the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Unity Software by 20.3% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 3,670 shares of the company's stock worth $150,000 after purchasing an additional 620 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Unity Software during the 3rd quarter worth approximately $414,000. Finally, LA Financiere DE L Echiquier lifted its position in shares of Unity Software by 25.3% during the 4th quarter. LA Financiere DE L Echiquier now owns 399,600 shares of the company's stock valued at $16,340,000 after acquiring an additional 80,600 shares during the period. Institutional investors own 73.46% of the company's stock.

Unity Software Price Performance

The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of -10.04 and a beta of 2.40. The business's fifty day simple moving average is $25.61 and its 200 day simple moving average is $30.17. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $609.27 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. On average, research analysts forecast 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.

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