Unity Software (NYSE:U) Stock Price Down 4.1% After Analyst Downgrade

Shares of Unity Software Inc. (NYSE:U - Get Free Report) fell 4.1% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $32.00 to $25.00. Morgan Stanley currently has an overweight rating on the stock. Unity Software traded as low as $18.43 and last traded at $18.44. 2,374,066 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 10,853,603 shares. The stock had previously closed at $19.23.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Citigroup raised shares of Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research note on Tuesday, March 11th. Hsbc Global Res raised shares of Unity Software to a "strong-buy" rating in a research note on Friday, February 21st. Jefferies Financial Group dropped their price objective on Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a report on Monday, April 7th. Finally, Barclays increased their price target on shares of Unity Software from $18.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.96.

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 1,395 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the sale, the chief accounting officer now owns 450,881 shares of the company's stock, valued at approximately $9,775,100.08. This represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.99, for a total value of $3,498,340.33. Following the sale, the director now owns 3,481,479 shares in the company, valued at approximately $73,076,244.21. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 782,231 shares of company stock worth $17,933,528 over the last 90 days. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Unity Software in the fourth quarter worth $269,320,000. Slate Path Capital LP acquired a new stake in shares of Unity Software during the fourth quarter worth approximately $62,387,000. Capital International Investors lifted its position in shares of Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock worth $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Unity Software by 3,843.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock worth $39,771,000 after buying an additional 1,725,070 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew 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 valued at $43,505,000 after buying an additional 1,521,165 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Unity Software Trading Up 1.6 %

The business's fifty day moving average is $21.53 and its 200 day moving average is $22.01. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of -11.43 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data 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. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Equities analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

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.