Unity Software (NYSE:U) Price Target Cut to $25.00 by Analysts at Morgan Stanley

Unity Software (NYSE:U - Free Report) had its price target trimmed by Morgan Stanley from $32.00 to $25.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on U. Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Needham & Company LLC lifted their price objective on shares of Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Macquarie started coverage on Unity Software in a research report on Monday, March 10th. They set a "neutral" rating and a $24.00 target price on the stock. Wedbush reissued an "outperform" rating and set a $27.00 price objective on shares of Unity Software in a report on Thursday, February 13th. Finally, HSBC raised Unity Software from a "hold" rating to a "buy" rating and set a $34.00 target price for the company in a report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.96.

Unity Software Stock Up 0.4 %

Shares of NYSE U traded up $0.08 during midday trading on Thursday, hitting $19.31. 6,102,716 shares of the stock traded hands, compared to its average volume of 10,903,830. 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 business has a 50 day moving average price of $21.53 and a two-hundred day moving average price of $22.02. The company has a market cap of $7.91 billion, a PE ratio of -11.49 and a beta of 2.31. Unity Software has a one year low of $13.90 and a one year high of $30.88.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. On average, equities analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Activity

In other news, CAO Mark Barrysmith sold 1,595 shares of Unity Software stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $18.43, for a total value of $29,395.85. Following the sale, the chief accounting officer now directly owns 481,822 shares in the company, valued at approximately $8,879,979.46. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 236,337 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the completion of the transaction, the director now owns 3,161,809 shares of the company's stock, valued at $75,630,471.28. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 782,231 shares of company stock valued at $17,933,528. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Unity Software in the fourth quarter worth approximately $269,320,000. Slate Path Capital LP purchased a new position in Unity Software in the 4th quarter worth approximately $62,387,000. Capital International Investors lifted its position in Unity Software by 10.4% in 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in Unity Software by 3,843.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock valued at $39,771,000 after purchasing an additional 1,725,070 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock worth $43,505,000 after purchasing an additional 1,521,165 shares in the last quarter. 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.