UBS Group Cuts Unity Software (NYSE:U) Price Target to $22.00

Unity Software (NYSE:U - Get Free Report) had its price target cut by UBS Group from $30.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price points to a potential upside of 17.58% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a report on Friday, February 21st. Wells Fargo & Company dropped their price objective on Unity Software from $22.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group cut their price objective on Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a report on Monday, April 7th. Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. Finally, Wedbush reissued an "outperform" rating and issued a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.46.

Unity Software Stock Down 0.6 %

NYSE U traded down $0.11 during trading hours on Friday, hitting $18.71. The company's stock had a trading volume of 3,091,691 shares, compared to its average volume of 10,847,312. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The company's 50-day simple moving average is $21.60 and its two-hundred day simple moving average is $22.07. The company has a market capitalization of $7.66 billion, a PE ratio of -11.14 and a beta of 2.31. Unity Software has a 52 week low of $13.90 and a 52 week high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Research analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of the business's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the sale, the chief accounting officer now owns 452,276 shares of the company's stock, valued at $9,909,367.16. The trade was a 0.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tomer Bar-Zeev sold 236,337 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the completion of the sale, the director now directly owns 3,161,809 shares of the company's stock, valued at $75,630,471.28. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 781,447 shares of company stock valued at $17,923,962 over the last ninety days. 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. GAMMA Investing LLC boosted its stake in Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock worth $37,000 after buying an additional 411 shares during the period. Principal Securities Inc. grew its holdings in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after purchasing an additional 477 shares during the last quarter. Farther Finance Advisors LLC raised its position in Unity Software by 3.5% in the 4th quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company's stock worth $324,000 after purchasing an additional 488 shares during the period. Tidal Investments LLC lifted its stake in Unity Software by 4.9% in the third quarter. Tidal Investments LLC now owns 15,410 shares of the company's stock worth $349,000 after purchasing an additional 723 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of Unity Software by 0.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company's stock valued at $3,182,000 after buying an additional 973 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.