Unity Software (NYSE:U) Price Target Cut to $14.00

Unity Software (NYSE:U) had its target price lowered by investment analysts at Macquarie from $20.00 to $14.00 in a report released on Thursday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Macquarie’s target price would suggest a potential downside of 13.74% from the company’s current price.

A number of other analysts have also weighed in on U. Stifel Nicolaus decreased their target price on shares of Unity Software from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Barclays decreased their target price on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 target price on shares of Unity Software in a report on Friday, May 10th. The Goldman Sachs Group decreased their target price on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.47.

Unity Software Stock Performance

NYSE U opened at $16.23 on Thursday. The company’s 50 day moving average is $20.10 and its 200-day moving average is $27.69. Unity Software has a 12-month low of $15.23 and a 12-month high of $50.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70. The firm has a market cap of $6.34 billion, a P/E ratio of -7.25 and a beta of 2.28.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.13. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The company had revenue of $460.38 million for the quarter, compared to analyst estimates of $422.53 million. Sell-side analysts predict that Unity Software will post -1.81 earnings per share for the current year.

Insider Activity

In related news, SVP Anirma Gupta sold 1,037 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.42, for a total value of $25,323.54. Following the transaction, the senior vice president now owns 386,706 shares of the company’s stock, valued at $9,443,360.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.42, for a total transaction of $25,323.54. Following the sale, the senior vice president now owns 386,706 shares in the company, valued at $9,443,360.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marc Whitten sold 86,768 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the transaction, the insider now owns 2,483 shares in the company, valued at approximately $51,149.80. The disclosure for this sale can be found here. Insiders have sold a total of 247,736 shares of company stock valued at $4,885,280 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Institutional Trading of Unity Software

A number of hedge funds have recently added to or reduced their stakes in U. Vanguard Group Inc. raised its holdings in Unity Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after purchasing an additional 208,566 shares in the last quarter. ARK Investment Management LLC boosted its position in Unity Software by 6.2% in the 4th quarter. ARK Investment Management LLC now owns 12,189,778 shares of the company’s stock worth $498,440,000 after purchasing an additional 712,579 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Unity Software by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after purchasing an additional 2,777,884 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in Unity Software by 32.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after purchasing an additional 2,787,058 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Unity Software during the 4th quarter valued at approximately $379,180,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.