Unity Software (NYSE:U) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Unity Software (NYSE:U) in a report issued on Monday, Marketbeat.com reports. The firm issued an equal weight rating and a $20.00 price target on the stock.

Several other equities research analysts also recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research report on Tuesday, September 3rd. Piper Sandler reiterated a “neutral” rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Finally, Needham & Company LLC cut their target price on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.35.

Unity Software Trading Down 3.1 %

U opened at $20.07 on Monday. The company’s 50 day moving average is $19.92 and its 200-day moving average is $19.07. Unity Software has a 1-year low of $13.90 and a 1-year high of $43.54. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The company has a market cap of $7.96 billion, a P/E ratio of -9.79 and a beta of 2.28.

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

Insider Activity

In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The shares were 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 $168,876,112.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The shares were 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 $168,876,112.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 281,600 shares of company stock worth $5,714,000 in the last quarter. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Unity Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after purchasing an additional 208,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Unity Software by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after acquiring an additional 2,777,884 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after acquiring an additional 2,787,058 shares during the last quarter. Capital Research Global Investors boosted its holdings in Unity Software by 18.7% during the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after acquiring an additional 1,342,787 shares during the last quarter. Finally, Capital International Investors boosted its holdings in Unity Software by 426.1% during the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after acquiring an additional 6,376,034 shares during the last quarter. 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.