Benchmark Trims Unity Software (NYSE:U) Target Price to $16.00

Unity Software (NYSE:UGet Rating) had its target price cut by investment analysts at Benchmark to $16.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. Benchmark’s price objective would indicate a potential downside of 51.92% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Bank of America initiated coverage on Unity Software in a research report on Friday, September 30th. They set a “neutral” rating and a $40.00 target price on the stock. DA Davidson dropped their target price on Unity Software from $60.00 to $40.00 in a research report on Thursday, November 10th. Wedbush dropped their target price on Unity Software from $70.00 to $45.00 in a research report on Thursday, November 10th. Needham & Company LLC assumed coverage on Unity Software in a report on Friday, October 7th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price objective on shares of Unity Software in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Unity Software has an average rating of “Hold” and an average price target of $51.24.

Unity Software Price Performance

NYSE:U opened at $33.28 on Tuesday. Unity Software has a 52 week low of $21.22 and a 52 week high of $210.00. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $10.01 billion, a PE ratio of -12.37 and a beta of 1.77. The stock’s 50-day moving average price is $32.10 and its 200-day moving average price is $39.02.

Insider Activity

In other news, SVP Marc Whitten sold 6,546 shares of Unity Software stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.93, for a total transaction of $300,657.78. Following the sale, the senior vice president now owns 252,744 shares of the company’s stock, valued at approximately $11,608,531.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Unity Software news, Director David Helgason sold 8,333 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $48.09, for a total value of $400,733.97. Following the sale, the director now owns 9,143,280 shares of the company’s stock, valued at $439,700,335.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Whitten sold 6,546 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.93, for a total value of $300,657.78. Following the completion of the sale, the senior vice president now directly owns 252,744 shares in the company, valued at approximately $11,608,531.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,164 shares of company stock valued at $1,237,049. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently modified their holdings of U. Clearbridge Investments LLC grew its stake in shares of Unity Software by 2,365.2% in the first quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock worth $438,545,000 after acquiring an additional 4,241,060 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Unity Software by 17.2% in the first quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock worth $1,714,261,000 after acquiring an additional 2,531,507 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Unity Software by 22.7% during the third quarter. ARK Investment Management LLC now owns 11,263,159 shares of the company’s stock worth $358,844,000 after purchasing an additional 2,087,448 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Unity Software by 184.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,411,870 shares of the company’s stock worth $88,805,000 after purchasing an additional 1,564,719 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Unity Software by 30.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,525,506 shares of the company’s stock worth $240,269,000 after purchasing an additional 1,524,282 shares in the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.

Unity Software Company Profile

(Get Rating)

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.

Recommended Stories

Stock Target Advisor logo

Analyst Recommendations for Unity Software (NYSE:U)

Receive News & Ratings for Unity Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unity Software and related companies with MarketBeat.com's FREE daily email newsletter.