Unity Software (NYSE:U) Trading Down 3.7%

Unity Software Inc. (NYSE:U)’s stock price fell 3.7% during mid-day trading on Wednesday . The company traded as low as $16.06 and last traded at $16.09. 5,275,526 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 9,786,103 shares. The stock had previously closed at $16.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on U shares. The Goldman Sachs Group dropped their target price on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Benchmark decreased their target price on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus cut their price target on Unity Software from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 9th. Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Tuesday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.46.

Unity Software Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of -7.11 and a beta of 2.25. The business’s fifty day moving average price is $16.23 and its 200-day moving average price is $21.00.

Unity Software (NYSE:U) last announced its earnings results 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. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. Unity Software’s quarterly revenue was down 15.8% on a year-over-year basis. On average, research analysts forecast that Unity Software Inc. will post -1.9 EPS for the current year.

Insider Buying and Selling

In related news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have sold 5,472 shares of company stock worth $90,871. 6.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Impact Advisors LLC bought a new stake in Unity Software during the 2nd quarter valued at $440,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares in the last quarter. Creative Planning raised its position in shares of Unity Software by 111.7% in the second quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after buying an additional 71,325 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Unity Software by 127.3% during the second quarter. Susquehanna Fundamental Investments LLC now owns 330,160 shares of the company’s stock valued at $5,368,000 after buying an additional 184,922 shares during the period. Finally, Scientech Research LLC grew its position in Unity Software by 615.3% during the second quarter. Scientech Research LLC now owns 77,785 shares of the company’s stock worth $1,265,000 after buying an additional 66,911 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.