Macquarie Issues Positive Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price target hoisted by research analysts at Macquarie from $15.00 to $16.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Macquarie’s price target points to a potential downside of 21.95% from the stock’s current price.

A number of other equities analysts also recently weighed in on U. Wedbush boosted their price target on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Oppenheimer reissued a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. The Goldman Sachs Group cut their price target 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. Wells Fargo & Company began coverage on shares of Unity Software in a report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price target on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $17.00 price target (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.35.

Unity Software Stock Down 7.7 %

Shares of NYSE U traded down $1.71 during trading on Friday, hitting $20.50. The stock had a trading volume of 24,533,773 shares, compared to its average volume of 10,404,142. Unity Software has a 12 month low of $13.90 and a 12 month high of $43.54. 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 company has a market capitalization of $8.14 billion, a PE ratio of -10.00 and a beta of 2.29. The firm has a fifty day moving average of $20.33 and a two-hundred day moving average of $18.99.

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

Insider Activity

In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 281,600 shares of company stock worth $5,714,000 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of Unity Software during the 1st quarter valued at about $3,878,000. Magnetar Financial LLC bought a new position in shares of Unity Software during the 2nd quarter valued at about $2,535,000. Vanguard Group Inc. increased its position in shares of Unity Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after purchasing an additional 208,566 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Unity Software by 187.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock valued at $9,440,000 after purchasing an additional 230,696 shares during the last quarter. Finally, Creative Planning increased its position in shares of Unity Software by 111.7% during the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock valued at $2,198,000 after purchasing an additional 71,325 shares during the last quarter. 73.46% of the stock is 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.