Unity Software (NYSE:U) Stock Price Down 10.7% - Here's What Happened

Unity Software Inc. (NYSE:U - Get Free Report)'s stock price traded down 10.7% during trading on Tuesday . The stock traded as low as $24.44 and last traded at $24.36. 15,882,472 shares changed hands during trading, an increase of 29% from the average session volume of 12,291,691 shares. The stock had previously closed at $27.28.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Wedbush reiterated an "outperform" rating and set a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. Macquarie upped their price target on shares of Unity Software from $15.00 to $16.00 and gave the stock an "underperform" rating in a report on Friday, November 8th. Finally, HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $25.96.

Unity Software Stock Up 5.3 %

The company's 50-day moving average price is $22.60 and its 200 day moving average price is $21.34. 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 $10.88 billion, a PE ratio of -16.07 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The business had revenue of $457.10 million during 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%. As a group, analysts forecast that Unity Software Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other Unity Software news, SVP Felix The sold 20,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares in the company, valued at $10,751,462.80. This represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the sale, the director now owns 3,648,146 shares in the company, valued at approximately $91,276,612.92. The trade was a 6.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 742,766 shares of company stock worth $18,248,777. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Large investors have recently made changes to their positions in the company. Anderson Financial Strategies LLC bought a new position in Unity Software during the fourth quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Unity Software during the 4th quarter valued at about $30,000. Principal Securities Inc. lifted its holdings in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after acquiring an additional 477 shares during the last quarter. Planning Capital Management Corp purchased a new position in Unity Software in the third quarter worth about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Unity Software in the fourth quarter worth about $36,000. 73.46% of the stock is owned by institutional investors.

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.