Unity Software (NYSE:U) Stock Rating Lowered by Wedbush

Wedbush cut shares of Unity Software (NYSE:U - Free Report) from a strong-buy rating to a strong sell rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also weighed in on U. Jefferies Financial Group reduced their target price on Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a report on Monday, April 7th. UBS Group reduced their target price on Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Benchmark upgraded Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. Hsbc Global Res upgraded Unity Software to a "strong-buy" rating in a report on Friday, February 21st. Finally, Morgan Stanley reduced their target price on Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Unity Software presently has an average rating of "Hold" and an average target price of $24.21.

Unity Software Stock Down 0.4%

Shares of NYSE U traded down $0.08 during trading hours on Wednesday, hitting $20.57. The stock had a trading volume of 7,373,905 shares, compared to its average volume of 10,962,659. The company has a market capitalization of $8.55 billion, a P/E ratio of -12.24 and a beta of 2.29. The firm's 50-day moving average price is $20.64 and its two-hundred day moving average price is $22.01. Unity Software has a 52 week low of $13.90 and a 52 week high of $30.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

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

Insider Activity at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $21.59, for a total value of $3,598,340.53. Following the sale, the director now directly owns 2,814,812 shares in the company, valued at $60,771,791.08. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 1,595 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $18.43, for a total value of $29,395.85. Following the completion of the sale, the chief accounting officer now owns 481,822 shares in the company, valued at $8,879,979.46. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 782,231 shares of company stock worth $18,033,528. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Unity Software

A number of large investors have recently bought and sold shares of U. Vanguard Group Inc. grew its holdings in shares of Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after purchasing an additional 1,841,486 shares during the last quarter. Capital International Investors grew its holdings in shares of Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock worth $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Norges Bank bought a new stake in shares of Unity Software during the fourth quarter worth $269,320,000. Geode Capital Management LLC grew its holdings in shares of Unity Software by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock worth $107,208,000 after purchasing an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP acquired a new position in shares of Unity Software during the fourth quarter valued at $62,387,000. 73.46% of the stock is currently owned by 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.