Unity Software (NYSE:U) Stock Price Down 7.2%

Unity Software Inc. (NYSE:U) shares fell 7.2% on Wednesday . The company traded as low as $21.13 and last traded at $21.52. 15,873,319 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 10,513,700 shares. The stock had previously closed at $23.19.

Analysts Set New Price Targets

U has been the topic of several research reports. Benchmark lowered 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. Wedbush upped their price objective on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Macquarie increased their target price on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 17th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Finally, Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Unity Software presently has an average rating of “Hold” and a consensus price target of $25.27.

Unity Software Price Performance

The stock has a market capitalization of $8.96 billion, a P/E ratio of -9.97 and a beta of 2.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a fifty day moving average price of $17.27 and a two-hundred day moving average price of $19.96.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating 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 business had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. During the same period last year, the firm earned ($0.26) earnings per share. The business’s quarterly revenue was down 15.8% on a year-over-year basis. As a group, analysts expect that Unity Software Inc. will post -1.86 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction that occurred 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 owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Unity Software news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Helgason sold 250,000 shares of the 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 sale, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The disclosure for this sale can be found here. Insiders have sold a total of 283,906 shares of company stock worth $5,753,611 in the last three months. Insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Large investors have recently modified their holdings of the company. Tradewinds Capital Management LLC lifted its holdings in Unity Software by 245.6% during the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of 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 last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Unity Software by 163.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Unity Software by 31.6% in the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Unity Software in the first quarter worth about $65,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.