Unity Software (NYSE:U) Earns Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Unity Software (NYSE:U) in a research report report published on Friday morning, Benzinga reports.

A number of other research analysts also recently issued reports on the company. Piper Sandler reaffirmed a neutral rating and set a $17.00 price target (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Wedbush lowered their price objective on Unity Software from $33.50 to $21.00 and set an outperform rating on the stock in a research report on Friday, August 9th. Morgan Stanley raised Unity Software from an equal weight rating to an overweight rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 3rd. Stifel Nicolaus lifted their price objective on Unity Software from $20.00 to $25.00 and gave the company a buy rating in a research report on Friday. Finally, Benchmark decreased their target price on Unity Software from $16.00 to $10.00 and set a sell rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $26.82.

Unity Software Price Performance

Shares of U stock opened at $19.91 on Friday. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of -8.89 and a beta of 2.25. The business’s fifty day moving average is $16.44 and its 200 day moving average is $20.26. Unity Software has a twelve month low of $13.90 and a twelve month high of $43.54. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. During the same period in the prior year, the firm posted ($0.26) earnings per share. The company’s quarterly revenue was down 15.8% on a year-over-year basis. Research analysts expect that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Transactions at Unity Software

In related news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Unity Software news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The disclosure for this sale can be found here. Insiders sold a total of 285,472 shares of company stock worth $5,775,071 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in Unity Software in the 4th quarter valued at about $37,000. Tidemark LLC acquired a new position in Unity Software during the 4th quarter worth approximately $39,000. Tradewinds Capital Management LLC increased its position in Unity Software by 245.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Unity Software by 2,429.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock worth $28,000 after purchasing an additional 996 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.