Unity Software (NYSE:U) Price Target Increased to $15.00 by Analysts at Macquarie

Unity Software (NYSE:U) had its price target boosted by equities researchers at Macquarie from $12.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Macquarie’s price target would indicate a potential downside of 26.43% from the company’s previous close.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group decreased their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus raised their price target on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, September 3rd. Needham & Company LLC decreased their price target on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark decreased their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.46.

Unity Software Trading Up 0.4 %

Shares of NYSE:U traded up $0.09 during trading on Tuesday, hitting $20.39. The company had a trading volume of 8,832,359 shares, compared to its average volume of 10,232,112. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of -9.10 and a beta of 2.25. Unity Software has a one year low of $13.90 and a one year high of $43.54. The company has a fifty day simple moving average of $16.53 and a two-hundred day simple moving average of $20.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period last year, the company earned ($0.26) EPS. As a group, equities analysts forecast that Unity Software will post -1.86 earnings per share for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the transaction, the senior vice president now directly owns 409,540 shares in the company, valued at approximately $6,851,604.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $536,700.00. Following the completion of the transaction, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The disclosure for this sale can be found here. Insiders sold a total of 284,672 shares of company stock valued at $5,762,015 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Unity Software during the 4th quarter worth $379,180,000. Capital International Investors grew its stake 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 buying an additional 6,376,034 shares during the last quarter. Capital Research Global Investors grew its stake in Unity Software by 510.2% during the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after buying an additional 6,004,655 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake 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 buying an additional 2,787,058 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake 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 buying an additional 2,777,884 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.