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

Unity Software (NYSE:U) had its price target cut by research 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 price objective indicates a potential downside of 15.66% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 target price on shares of Unity Software in a research report on Friday, May 10th. Benchmark reaffirmed a “sell” rating and issued a $16.00 target price on shares of Unity Software in a research report on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and issued a $33.50 target price on shares of Unity Software in a research report on Friday, May 10th. Barclays decreased their target price on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, Citigroup decreased their target price on Unity Software from $50.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.44.

Unity Software Trading Up 0.9 %

U stock traded up $0.14 during trading on Thursday, reaching $16.60. 1,741,524 shares of the stock traded hands, compared to its average volume of 9,615,378. The business’s 50 day moving average price is $20.37 and its 200-day moving average price is $27.88. Unity Software has a 52-week low of $15.23 and a 52-week high of $50.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $6.49 billion, a PE ratio of -7.41 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 analysts’ consensus estimates of ($0.27) by $0.13. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The firm had revenue of $460.38 million during the quarter, compared to the consensus estimate of $422.53 million. As a group, sell-side analysts forecast that Unity Software will post -1.81 earnings per share for the current year.

Insider Buying and Selling

In other Unity Software news, CFO Luis Felipe Visoso sold 42,718 shares of Unity Software stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $815,913.80. Following the transaction, the chief financial officer now owns 1,598,345 shares of the company’s stock, valued at approximately $30,528,389.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Marc Whitten sold 31,466 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $601,000.60. Following the completion of the sale, the insider now owns 958,241 shares in the company, valued at approximately $18,302,403.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luis Felipe Visoso sold 42,718 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total value of $815,913.80. Following the transaction, the chief financial officer now directly owns 1,598,345 shares in the company, valued at approximately $30,528,389.50. The disclosure for this sale can be found here. Insiders sold 247,736 shares of company stock valued at $4,885,280 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Unity Software by 50.3% during the third quarter. PNC Financial Services Group Inc. now owns 5,585 shares of the company’s stock worth $175,000 after buying an additional 1,868 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Unity Software by 19.9% during the 3rd quarter. LPL Financial LLC now owns 182,127 shares of the company’s stock worth $5,710,000 after purchasing an additional 30,223 shares during the period. Mariner LLC lifted its stake in shares of Unity Software by 20.7% in the third quarter. Mariner LLC now owns 36,496 shares of the company’s stock valued at $1,146,000 after buying an additional 6,248 shares during the period. Stifel Financial Corp grew its position in Unity Software by 4.0% during the third quarter. Stifel Financial Corp now owns 246,510 shares of the company’s stock worth $7,738,000 after buying an additional 9,583 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Unity Software by 4.8% during the third quarter. Northern Trust Corp now owns 1,583,326 shares of the company’s stock valued at $49,701,000 after acquiring an additional 72,770 shares during the period. 73.46% of the stock is owned by 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.