Macquarie Begins Coverage on Unity Software (NYSE:U)

Stock analysts at Macquarie assumed coverage on shares of Unity Software (NYSE:U - Get Free Report) in a research note issued on Monday, Marketbeat reports. The brokerage set a "neutral" rating and a $24.00 price target on the stock. Macquarie's price target would indicate a potential upside of 18.26% from the stock's previous close.

Several other analysts have also recently issued reports on the company. JMP Securities reissued a "market perform" rating on shares of Unity Software in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on Unity Software from $27.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday. Hsbc Global Res raised Unity Software to a "strong-buy" rating in a research report on Friday, February 21st. Needham & Company LLC lifted 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. Finally, Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.61.

Unity Software Trading Down 5.7 %

Shares of NYSE U traded down $1.22 during trading hours on Monday, hitting $20.29. The company's stock had a trading volume of 3,750,031 shares, compared to its average volume of 12,616,309. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of -12.13 and a beta of 2.27. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The business has a 50-day simple moving average of $22.88 and a 200-day simple moving average of $21.88.

Remove Ads

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analysts' expectations 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, analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, SVP Anirma Gupta sold 31,948 shares of Unity Software stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $25.23, for a total value of $806,048.04. Following the completion of the sale, the senior vice president now owns 542,942 shares of the company's stock, valued at approximately $13,698,426.66. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares of the company's stock, valued at approximately $9,909,367.16. This trade represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 864,537 shares of company stock worth $20,839,722 in the last three months. Insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Unity Software

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Unity Software by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after purchasing an additional 625,872 shares during the period. Capital International Investors grew its position in shares of Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after acquiring an additional 1,786,032 shares during the period. Norges Bank bought a new stake in shares of Unity Software during the 4th quarter valued at $269,320,000. Geode Capital Management LLC grew its position in shares of Unity Software by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after acquiring an additional 84,480 shares during the period. Finally, Slate Path Capital LP bought a new stake in shares of Unity Software during the 4th quarter valued at $62,387,000. 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.