Wells Fargo & Company Cuts Unity Software (NYSE:U) Price Target to $22.00

Unity Software (NYSE:U) had its target price cut by Wells Fargo & Company from $27.00 to $22.00 in a research note released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently issued reports on the stock. Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. Needham & Company LLC upped their price objective on Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JMP Securities reissued a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Barclays boosted their price target on Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Finally, Jefferies Financial Group increased their price objective on Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.61.

Unity Software Stock Up 2.6 %

Shares of NYSE:U opened at $21.52 on Monday. 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 stock has a fifty day simple moving average of $22.88 and a two-hundred day simple moving average of $21.88. Unity Software has a 12-month low of $13.90 and a 12-month high of $30.88. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of -12.81 and a beta of 2.27.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, research analysts anticipate 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, COO Alexander Blum sold 1,479 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the sale, the chief operating officer now directly owns 495,648 shares of the company’s stock, valued at $12,520,068.48. This trade represents a 0.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Barrysmith sold 1,228 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the transaction, the chief financial officer now directly owns 453,638 shares in the company, valued at $11,086,912.72. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 864,537 shares of company stock valued at $20,839,722 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of U. Ariose Capital Management Ltd purchased a new position in shares of Unity Software during the fourth quarter valued at about $2,299,000. Charles Schwab Investment Management Inc. grew its holdings in Unity Software by 100.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after buying an additional 944,709 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after buying an additional 330,088 shares in the last quarter. LMR Partners LLP bought a new stake in Unity Software in the 3rd quarter worth approximately $611,000. Finally, Edgestream Partners L.P. raised its holdings in shares of Unity Software by 637.9% during the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after acquiring an additional 88,955 shares in the last quarter. 73.46% of the stock is currently 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.