Unity Software (NYSE:U) Shares Down 8.4% - Time to Sell?

Unity Software Inc. (NYSE:U - Get Free Report) shares were down 8.4% on Friday . The company traded as low as $20.32 and last traded at $20.34. Approximately 12,396,597 shares changed hands during trading, an increase of 20% from the average daily volume of 10,348,210 shares. The stock had previously closed at $22.21.

Analyst Ratings Changes

Several brokerages have commented on U. JMP Securities reaffirmed a "market perform" rating on shares of Unity Software in a research note on Friday, September 13th. Stifel Nicolaus upped their target price on shares of Unity Software from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Benchmark upped their target price on shares of Unity Software from $10.00 to $15.00 and gave the company a "sell" rating in a research note on Friday. Wedbush upped their target price on shares of Unity Software from $21.00 to $27.00 and gave the company an "outperform" rating in a research note on Monday, September 16th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $17.00 target price (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Unity Software has a consensus rating of "Hold" and an average target price of $23.27.

Unity Software Price Performance

The company has a market capitalization of $8.14 billion, a P/E ratio of -9.94 and a beta of 2.29. The company's 50-day moving average price is $20.33 and its two-hundred day moving average price is $18.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. The company had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company's revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) earnings per share. As a group, sell-side analysts expect that Unity Software Inc. will post -1.86 EPS for the current year.

Insider Buying and Selling

In other Unity Software news, Director David Helgason sold 250,000 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares of the company's stock, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 value of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Helgason sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,600 shares of company stock valued at $5,714,000. 6.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently added to or reduced their stakes in U. Vanguard Group Inc. raised its holdings in shares of Unity Software by 0.8% during the first 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 period. Capital Research Global Investors boosted its holdings in Unity Software by 18.7% in the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company's stock worth $227,603,000 after acquiring an additional 1,342,787 shares in the last quarter. Capital International Investors boosted its holdings in Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company's stock worth $210,193,000 after acquiring an additional 6,376,034 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Unity Software by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,324,694 shares of the company's stock worth $37,806,000 after acquiring an additional 200,008 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Unity Software by 35.0% in the second quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company's stock worth $31,805,000 after acquiring an additional 507,274 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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