Unity Software Inc. (NYSE:U – Get Free Report) dropped 4% during mid-day trading on Tuesday . The company traded as low as $25.78 and last traded at $26.01. Approximately 2,258,412 shares traded hands during trading, a decline of 80% from the average daily volume of 11,559,211 shares. The stock had previously closed at $27.10.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Wolfe Research cut shares of Unity Software from an “outperform” rating to a “peer perform” rating in a report on Monday, November 13th. Needham & Company LLC dropped their target price on shares of Unity Software from $40.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Stifel Nicolaus boosted their target price on shares of Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 1st. HSBC initiated coverage on shares of Unity Software in a research note on Monday, December 18th. They issued a “hold” rating and a $37.00 target price on the stock. Finally, Macquarie cut shares of Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.03.
Unity Software Stock Performance
The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $32.79 and its 200-day moving average is $32.42. The company has a market capitalization of $10.02 billion, a P/E ratio of -12.04 and a beta of 2.44.
Unity Software (NYSE:U – Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The firm had revenue of $609.27 million for the quarter, compared to the consensus estimate of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.50) earnings per share. Equities analysts anticipate that Unity Software Inc. will post -0.63 EPS for the current fiscal year.
Insider Activity
In related news, SVP Anirma Gupta sold 2,551 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $39.99, for a total value of $102,014.49. Following the transaction, the senior vice president now owns 397,741 shares of the company’s stock, valued at $15,905,662.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Tomer Bar-Zeev sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $40.92, for a total value of $6,138,000.00. Following the completion of the transaction, the insider now owns 1,200,332 shares of the company’s stock, valued at $49,117,585.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anirma Gupta sold 2,551 shares of Unity Software stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $39.99, for a total value of $102,014.49. Following the sale, the senior vice president now directly owns 397,741 shares in the company, valued at approximately $15,905,662.59. The disclosure for this sale can be found here. Insiders have sold a total of 533,293 shares of company stock valued at $17,357,158 in the last 90 days. 9.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Unity Software
Several large investors have recently made changes to their positions in U. PNC Financial Services Group Inc. raised its holdings in Unity Software by 8.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,349 shares of the company’s stock valued at $431,000 after buying an additional 350 shares during the period. MetLife Investment Management LLC purchased a new stake in Unity Software during the 1st quarter valued at $967,000. Dimensional Fund Advisors LP raised its holdings in Unity Software by 91.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,954 shares of the company’s stock valued at $690,000 after buying an additional 3,313 shares during the period. Sei Investments Co. raised its holdings in Unity Software by 38.4% during the 1st quarter. Sei Investments Co. now owns 205,371 shares of the company’s stock valued at $20,396,000 after buying an additional 56,958 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Unity Software by 684.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,000 shares of the company’s stock valued at $496,000 after buying an additional 4,363 shares during the period. 64.74% 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.