Unity Software (NYSE:U) Price Target Cut to $19.00 by Analysts at Wells Fargo & Company

Unity Software (NYSE:U - Free Report) had its price objective lowered by Wells Fargo & Company from $22.00 to $19.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Barclays lifted their price objective on shares of Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. Jefferies Financial Group reduced their price target on Unity Software from $24.00 to $16.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Wedbush reissued an "outperform" rating and set a $27.00 price objective on shares of Unity Software in a report on Thursday, February 13th. Citizens Jmp upgraded Unity Software from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, UBS Group increased their price target on Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Ten equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.46.

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Unity Software Stock Up 0.9 %

Shares of NYSE:U traded up $0.17 during trading on Tuesday, reaching $19.25. 5,933,506 shares of the company traded hands, compared to its average volume of 10,873,252. The firm has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $22.13. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The firm has a market cap of $7.89 billion, a P/E ratio of -11.46 and a beta of 2.31.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (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 firm had revenue of $457.10 million during the quarter, compared to analysts' expectations of $433.47 million. Analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In related news, CAO Mark Barrysmith sold 1,362 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the sale, the chief accounting officer now owns 452,276 shares of the company's stock, valued at $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction that occurred on 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 directly owns 3,481,479 shares in the company, valued at $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 have sold 781,903 shares of company stock worth $17,934,432 over the last three months. Company insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC acquired a new stake in Unity Software in the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in Unity Software in the 4th quarter worth approximately $30,000. Principal Securities Inc. raised its position in Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after purchasing an additional 477 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Unity Software during the 4th quarter worth $36,000. Finally, GAMMA Investing LLC boosted its position in Unity Software by 33.6% in the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company's stock valued at $37,000 after buying an additional 411 shares during 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.