Unity Software (NYSE:U) Reaches New 52-Week Low at $15.15

Unity Software Inc. (NYSE:U) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.15 and last traded at $15.20, with a volume of 7250394 shares trading hands. The stock had previously closed at $16.36.

Analyst Ratings Changes

A number of brokerages recently issued reports on U. Benchmark reaffirmed a “sell” rating and set a $16.00 target price on shares of Unity Software in a research report on Friday, May 10th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Friday, May 10th. The Goldman Sachs Group reduced their price objective on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Wedbush reissued an “outperform” rating and issued a $33.50 target price on shares of Unity Software in a research note on Monday, July 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Unity Software in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.47.

Unity Software Stock Down 0.2 %

The stock has a market cap of $5.99 billion, a P/E ratio of -6.83 and a beta of 2.25. The firm has a 50 day simple moving average of $16.75 and a 200-day simple moving average of $23.85. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.13. The company had revenue of $460.38 million for the quarter, compared to analyst estimates of $422.53 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. On average, equities research analysts forecast that Unity Software Inc. will post -1.81 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the sale, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Anirma Gupta sold 1,506 shares of the 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 sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marc Whitten sold 86,768 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the transaction, the insider now owns 2,483 shares in the company, valued at approximately $51,149.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 245,005 shares of company stock valued at $4,798,048. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors increased its holdings in shares of Unity Software by 510.2% during the fourth 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 in the last quarter. Janney Montgomery Scott LLC raised its position in Unity Software by 26.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after purchasing an additional 7,484 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Unity Software during the first quarter valued at about $3,878,000. Seldon Capital LP bought a new stake in shares of Unity Software during the fourth quarter worth about $7,576,000. Finally, Vanguard Group Inc. increased its stake in shares of Unity Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after buying an additional 208,566 shares during the period. 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.