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

by · The Cerbat Gem

Wall Street Zen cut shares of Unity Software (NYSE:U – Free Report) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

U has been the subject of several other reports. Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $50.00 in a research report on Friday, August 7th. Piper Sandler raised their price objective on Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wells Fargo & Company lifted their target price on shares of Unity Software from $36.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wedbush upped their target price on shares of Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial started coverage on shares of Unity Software in a research report on Monday, June 29th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Unity Software currently has a consensus rating of “Moderate Buy” and an average target price of $45.16.

View Our Latest Research Report on U

Unity Software Trading Up 4.6%

U stock opened at $44.00 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. Unity Software has a 12-month low of $16.78 and a 12-month high of $52.15. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of -32.36, a PEG ratio of 1.93 and a beta of 2.06. The business’s 50-day moving average is $37.92 and its 200 day moving average is $29.22.

Unity Software (NYSE:U – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts anticipate that Unity Software will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, COO Alexander Blum sold 43,556 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the transaction, the chief operating officer owned 661,855 shares of the company’s stock, valued at approximately $28,797,311.05. The trade was a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the sale, the senior vice president owned 308,413 shares of the company’s stock, valued at approximately $13,977,277.16. The trade was a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 109,547 shares of company stock worth $4,884,202. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in Unity Software in the 1st quarter valued at about $54,534,000. Entropy Technologies LP purchased a new position in shares of Unity Software in the first quarter valued at approximately $1,985,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Unity Software in the fourth quarter valued at approximately $3,710,000. GSA Capital Partners LLP acquired a new position in shares of Unity Software in the second quarter valued at approximately $1,370,000. Finally, Norges Bank acquired a new position in shares of Unity Software in the fourth quarter valued at approximately $230,285,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Company Profile

(Get Free Report)

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.

The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.

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