Wells Fargo & Company Lowers Unity Software (NYSE:U) Price Target to $22.00

Unity Software (NYSE:U - Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $27.00 to $22.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 2.19% from the company's current price.

Several other research firms have also weighed in on U. Morgan Stanley increased their target price on shares of Unity Software from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. UBS Group raised their price target on Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Needham & Company LLC increased their price objective on Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a report on Friday, February 21st. Barclays increased their price target 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. Finally, Wedbush restated an "outperform" rating and set a $27.00 price objective on shares of Unity Software in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Unity Software currently has an average rating of "Hold" and a consensus target price of $24.65.

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Unity Software Stock Performance

Shares of NYSE:U traded down $2.66 during trading on Monday, hitting $21.53. 3,353,120 shares of the stock were exchanged, compared to its average volume of 12,509,413. The company's fifty day simple moving average is $22.95 and its 200-day simple moving average is $21.83. 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 company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -12.81 and a beta of 2.27. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced 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. 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 analysts' expectations of $433.47 million. Sell-side analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Unity Software news, SVP Anirma Gupta sold 31,948 shares of Unity Software stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the completion of the sale, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Helgason sold 38,924 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $26.92, for a total value of $1,047,834.08. Following the completion of the sale, the director now directly owns 7,828,494 shares of the company's stock, valued at $210,743,058.48. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 872,397 shares of company stock worth $21,047,619 in the last 90 days. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Unity Software

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

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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