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

Unity Software (NYSE:U) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other brokerages have also recently issued reports on U. Morgan Stanley cut their price target on Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus lowered their price objective on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. UBS Group lowered their price objective on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America started coverage on shares of Unity Software in a research report on Thursday. They set an “underperform” rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Unity Software presently has an average rating of “Hold” and a consensus price target of $24.47.

Unity Software Trading Up 4.0%

Shares of NYSE:U opened at $24.33 on Friday. Unity Software has a 12-month low of $13.90 and a 12-month high of $30.88. The stock has a market cap of $10.11 billion, a PE ratio of -21.72 and a beta of 2.34. The business has a 50 day moving average of $22.82 and a 200-day moving average of $22.31. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The company had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.77 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Unity Software will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In related news, SVP Anirma Gupta sold 46,957 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $997,366.68. Following the completion of the sale, the senior vice president now directly owns 644,952 shares in the company, valued at $13,698,780.48. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 261,473 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the sale, the director now owns 7,489,173 shares of the company’s stock, valued at approximately $192,471,746.10. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,294,611 shares of company stock worth $30,506,382 over the last three months. Company insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

A number of large investors have recently bought and sold shares of U. Norges Bank acquired a new stake in shares of Unity Software in the 4th quarter valued at about $269,320,000. Atreides Management LP grew its stake in shares of Unity Software by 146.7% in the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock valued at $184,752,000 after buying an additional 5,607,572 shares during the period. Slate Path Capital LP acquired a new stake in shares of Unity Software in the 4th quarter valued at about $62,387,000. Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Unity Software in the 1st quarter valued at about $47,648,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Unity Software in the 1st quarter valued at about $43,265,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.