Macquarie Trims Unity Software (NYSE:U) Target Price to $14.00

Unity Software (NYSE:U) had its price objective lowered by Macquarie from $20.00 to $14.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an underperform rating on the stock.

U has been the subject of a number of other reports. Needham & Company LLC restated a buy rating and issued a $31.00 price target on shares of Unity Software in a research report on Friday, May 10th. Benchmark reiterated a sell rating and issued a $16.00 price objective on shares of Unity Software in a research report on Friday, May 10th. Barclays lowered their price objective on Unity Software from $28.00 to $27.00 and set an equal weight rating for the company in a research report on Friday, May 10th. JMP Securities restated a market perform rating on shares of Unity Software in a research note on Friday, May 10th. Finally, Citigroup decreased their price target on Unity Software from $50.00 to $38.00 and set a buy rating on the stock in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $33.47.

Unity Software Price Performance

Shares of Unity Software stock opened at $16.26 on Thursday. The business has a 50 day simple moving average of $20.10 and a two-hundred day simple moving average of $27.65. Unity Software has a 12 month low of $15.23 and a 12 month high of $50.08. The stock has a market capitalization of $6.36 billion, a P/E ratio of -7.26 and a beta of 2.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 2.15.

Unity Software (NYSE:U) last announced its earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The business had revenue of $460.38 million during the quarter, compared to analysts’ expectations of $422.53 million. As a group, analysts predict that Unity Software will post -1.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Marc Whitten sold 31,466 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $601,000.60. Following the transaction, the insider now owns 958,241 shares of the company’s stock, valued at $18,302,403.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Unity Software news, insider Marc Whitten sold 31,466 shares of Unity Software stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total value of $601,000.60. Following the sale, the insider now owns 958,241 shares of the company’s stock, valued at approximately $18,302,403.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luis Felipe Visoso sold 42,718 shares of Unity Software stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total value of $815,913.80. Following the completion of the sale, the chief financial officer now directly owns 1,598,345 shares in the company, valued at approximately $30,528,389.50. The disclosure for this sale can be found here. Insiders have sold a total of 247,736 shares of company stock valued at $4,885,280 over the last quarter. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Unity Software during the 4th quarter valued at approximately $379,180,000. Capital International Investors lifted its position in shares of Unity Software by 426.1% during the 1st quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after acquiring an additional 6,376,034 shares during the period. Capital Research Global Investors raised its position in shares of 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 purchasing an additional 6,004,655 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of 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 purchasing an additional 2,787,058 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 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 purchasing an additional 2,777,884 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.