Weiss Ratings Reiterates "Sell (D-)" Rating for Unity Software (NYSE:U)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Unity Software (NYSE:U), reflecting ongoing concerns among research analysts about the company's stock performance.
• Despite varied opinions from different research firms, the stock holds a consensus rating of "Hold" with an average price target of $32.65, while its current price has fluctuated between a low of $15.33 and a high of $46.94 over the last year.
• Insider trading activity has been notable, with significant stock sales by company executives, suggesting a potential lack of confidence in the company's near-term outlook.

Unity Software (NYSE:U - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on U. BTIG Research downgraded Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 target price on the stock. in a research report on Wednesday, July 23rd. Jefferies Financial Group lifted their target price on Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Morgan Stanley lifted their target price on Unity Software from $25.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. HSBC cut Unity Software from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $37.50 to $40.80 in a research note on Tuesday, September 30th. Finally, UBS Group increased their price objective on Unity Software from $22.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.65.

Unity Software Stock Up 0.4%

U stock traded up $0.16 on Wednesday, reaching $36.56. 8,573,337 shares of the company traded hands, compared to its average volume of 12,225,928. Unity Software has a one year low of $15.33 and a one year high of $46.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $15.45 billion, a P/E ratio of -34.49 and a beta of 2.32. The firm has a fifty day simple moving average of $39.61 and a 200-day simple moving average of $29.32.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The company had revenue of $440.94 million for the quarter, compared to the consensus estimate of $425.18 million. During the same period last year, the business earned ($0.32) EPS. The firm's quarterly revenue was down 1.9% on a year-over-year basis. Research analysts anticipate that Unity Software will post -1.25 earnings per share for the current year.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 645 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $46.52, for a total value of $30,005.40. Following the completion of the sale, the chief accounting officer owned 453,788 shares in the company, valued at $21,110,217.76. This represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total transaction of $9,957,500.00. Following the transaction, the director owned 1,548,146 shares in the company, valued at $61,662,655.18. This represents a 13.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,284,426 shares of company stock worth $96,630,284. Insiders own 3.61% of the company's stock.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Unity Software by 5.9% in the 1st 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. Slate Path Capital LP boosted its position in shares of Unity Software by 25.4% during the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company's stock valued at $484,410,000 after acquiring an additional 4,048,484 shares in the last quarter. Atreides Management LP boosted its position in shares of Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock valued at $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Norges Bank acquired a new stake in shares of Unity Software during the 2nd quarter valued at about $151,221,000. Finally, Geode Capital Management LLC lifted its holdings in Unity Software by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company's stock valued at $122,587,000 after purchasing an additional 36,105 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.