Unity Software (NYSE:U) Price Target Raised to $15.00 at Macquarie

Unity Software (NYSE:U) had its target price hoisted by Macquarie from $12.00 to $15.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an underperform rating on the stock.

Several other equities analysts also recently commented on the stock. Needham & Company LLC cut their price target on shares of Unity Software from $31.00 to $23.00 and set a buy rating on the stock in a report on Friday, August 9th. Benchmark cut their price target on shares of Unity Software from $16.00 to $10.00 and set a sell rating on the stock in a report on Friday, August 9th. Wedbush upped their price target on shares of Unity Software from $21.00 to $27.00 and gave the company an outperform rating in a report on Monday. The Goldman Sachs Group cut their price target on shares of Unity Software from $26.00 to $22.50 and set a neutral rating on the stock in a report on Friday, August 9th. Finally, JMP Securities reiterated a market perform rating on shares of Unity Software in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $27.46.

Unity Software Stock Performance

Unity Software stock opened at $20.64 on Tuesday. The company’s 50-day moving average price is $16.63 and its 200-day moving average price is $20.14. 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. The company has a market cap of $8.19 billion, a PE ratio of -9.21 and a beta of 2.25.

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

Insider Activity

In related news, SVP Felix The sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Felix The sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Helgason sold 250,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 284,672 shares of company stock worth $5,762,015. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in U. Norges Bank purchased a new position in shares of Unity Software in the fourth quarter worth $379,180,000. Capital International Investors raised its holdings in shares of Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after buying an additional 6,376,034 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after buying an additional 6,004,655 shares during the last quarter. Nikko Asset Management Americas Inc. raised its holdings in shares of Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after buying an additional 2,787,058 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Unity Software by 30.4% during the first 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 during the last quarter. 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.