Unity Software (NYSE:U) Shares Gap Down After Analyst Downgrade

Unity Software Inc. (NYSE:U - Get Free Report) gapped down before the market opened on Monday after Wells Fargo & Company lowered their price target on the stock from $27.00 to $22.00. The stock had previously closed at $24.19, but opened at $22.76. Wells Fargo & Company currently has an equal weight rating on the stock. Unity Software shares last traded at $21.80, with a volume of 2,514,524 shares.

Several other research analysts have also recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $27.00 target price on shares of Unity Software in a report on Thursday, February 13th. Jefferies Financial Group lifted their target price on Unity Software from $23.00 to $28.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. HSBC raised Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a report on Friday, February 21st. Finally, Barclays raised their price objective on Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.61.

Insider Buying and Selling

In related news, SVP Anirma Gupta sold 31,948 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the transaction, the senior vice president now owns 542,942 shares in the company, valued at approximately $13,698,426.66. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Alexander Blum sold 1,479 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total value of $37,359.54. Following the sale, the chief operating officer now owns 495,648 shares of the company's stock, valued at approximately $12,520,068.48. This trade represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 864,537 shares of company stock valued at $20,839,722. Company insiders own 6.30% of the company's stock.

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Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its stake in Unity Software by 159.7% during the third quarter. US Bancorp DE now owns 13,257 shares of the company's stock valued at $300,000 after buying an additional 8,152 shares in the last quarter. Covestor Ltd raised its position in shares of Unity Software by 678.8% during the 3rd quarter. Covestor Ltd now owns 4,143 shares of the company's stock valued at $94,000 after acquiring an additional 3,611 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Unity Software by 6.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 111,940 shares of the company's stock worth $2,532,000 after purchasing an additional 6,689 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Unity Software by 28.7% in the third quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company's stock worth $89,000 after purchasing an additional 876 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Unity Software during the third quarter valued at $380,000. Institutional investors own 73.46% of the company's stock.

Unity Software Stock Down 5.7 %

The stock's fifty day simple moving average is $22.88 and its two-hundred day simple moving average is $21.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of -12.07 and a beta of 2.27.

Unity Software (NYSE:U - Get Free Report) last issued its 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. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal 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.