Macquarie Initiates Coverage on Unity Software (NYSE:U)

Macquarie initiated coverage on shares of Unity Software (NYSE:U) in a note issued to investors on Monday. The firm set a “neutral” rating and a $24.00 price target on the stock. Macquarie’s price target suggests a potential upside of 11.82% from the company’s previous close.

Several other research firms have also weighed in on U. Wells Fargo & Company dropped their price target on Unity Software from $27.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Jefferies Financial Group upped their price objective on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Morgan Stanley lifted their price objective on Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC upped their target price on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.27.

Unity Software Trading Down 11.3 %

NYSE U traded down $2.73 on Monday, hitting $21.46. 7,456,852 shares of the company were exchanged, compared to its average volume of 12,608,781. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software has a twelve month low of $13.90 and a twelve month high of $30.88. The firm has a market capitalization of $8.79 billion, a P/E ratio of -12.91 and a beta of 2.27. The company’s 50 day moving average price is $22.95 and its 200-day moving average price is $21.83.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director David Helgason sold 38,924 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total value of $1,047,834.08. Following the transaction, the director now owns 7,828,494 shares of the company’s stock, valued at approximately $210,743,058.48. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 236,337 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total value of $5,653,181.04. Following the transaction, the director now owns 3,161,809 shares in the company, valued at approximately $75,630,471.28. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 872,397 shares of company stock worth $21,047,619. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Unity Software in the 4th quarter worth $269,320,000. Slate Path Capital LP bought a new position in shares of Unity Software during the 4th quarter worth approximately $62,387,000. Capital International Investors boosted its holdings in Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Unity Software by 3,843.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after buying an additional 1,725,070 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Unity Software by 366.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock valued at $43,505,000 after acquiring an additional 1,521,165 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.