Unity Software (NYSE:U) Downgraded to Hold Rating by Wall Street Zen

Unity Software (NYSE:U - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Other research analysts have also recently issued reports about the company. HSBC upgraded Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target on the stock in a research note on Friday, February 21st. Morgan Stanley cut their target price on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company lowered their price target on Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Wedbush downgraded shares of Unity Software from a "strong-buy" rating to a "strong sell" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.14.

Unity Software Price Performance

NYSE:U traded down $0.07 during trading hours on Friday, hitting $26.17. 5,039,589 shares of the stock were exchanged, compared to its average volume of 11,216,835. Unity Software has a 52-week low of $13.90 and a 52-week high of $30.88. The firm's fifty day moving average price is $20.80 and its 200 day moving average price is $22.27. 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 has a market cap of $10.88 billion, a P/E ratio of -15.58 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.19. The business had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business's revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity

In other Unity Software news, CAO Mark Barrysmith sold 1,414 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $21.42, for a total value of $30,287.88. Following the completion of the transaction, the chief accounting officer now directly owns 480,408 shares of the company's stock, valued at $10,290,339.36. This represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Anirma Gupta sold 46,957 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $997,366.68. Following the completion of the sale, the senior vice president now owns 644,952 shares in the company, valued at approximately $13,698,780.48. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,023,368 shares of company stock valued at $23,526,563 in the last ninety days. Company insiders own 3.61% of the company's stock.

Institutional Investors Weigh In On Unity Software

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its position in Unity Software by 0.7% in the 1st quarter. Rhumbline Advisers now owns 316,933 shares of the company's stock worth $6,209,000 after purchasing an additional 2,081 shares during the last quarter. Focus Partners Wealth bought a new position in Unity Software in the 1st quarter worth about $260,000. Bayforest Capital Ltd grew its position in Unity Software by 175.5% in the 1st quarter. Bayforest Capital Ltd now owns 6,045 shares of the company's stock worth $118,000 after purchasing an additional 3,851 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Unity Software by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company's stock worth $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Finally, Sender Co & Partners Inc. bought a new position in Unity Software in the 1st quarter worth about $2,042,000. Institutional investors and hedge funds 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.