Unity Software (NYSE:U) Stock Price Down 10.7% – Here’s What Happened

Unity Software Inc. (NYSE:U)’s stock price was down 10.7% during trading on Tuesday . The stock traded as low as $24.44 and last traded at $24.36. Approximately 15,882,472 shares changed hands during trading, an increase of 29% from the average daily volume of 12,291,691 shares. The stock had previously closed at $27.28.

Analysts Set New Price Targets

U has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Morgan Stanley increased their price target on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Unity Software from $20.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research note on Friday. Finally, HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $25.96.

Unity Software Stock Down 7.6 %

The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The business’s 50 day simple moving average is $22.58 and its 200 day simple moving average is $21.27. The firm has a market capitalization of $10.15 billion, a PE ratio of -15.05 and a beta of 2.32.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, equities research analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 83,333 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $25.44, for a total transaction of $2,119,991.52. Following the completion of the sale, the director now directly owns 3,398,146 shares of the company’s stock, valued at approximately $86,448,834.24. This represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Felix The sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the transaction, the senior vice president now owns 391,960 shares of the company’s stock, valued at approximately $10,751,462.80. This trade represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 742,766 shares of company stock worth $18,248,777 in the last quarter. 6.30% of the stock is owned by company insiders.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently made changes to their positions in U. Anderson Financial Strategies LLC acquired a new stake in Unity Software in the fourth quarter worth about $28,000. R Squared Ltd purchased a new stake in Unity Software during the 4th quarter worth approximately $30,000. Principal Securities Inc. increased its stake in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares in the last quarter. Planning Capital Management Corp purchased a new position in shares of Unity Software in the third quarter worth $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Unity Software during the fourth quarter worth $36,000. 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.