Unity Software (NYSE:U) Now Covered by Wells Fargo & Company

Investment analysts at Wells Fargo & Company assumed coverage on shares of Unity Software (NYSE:U) in a research report issued on Monday, MarketBeat reports. The brokerage set an “equal weight” rating and a $20.00 price target on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 3.50% from the company’s previous close.

A number of other research firms have also issued reports on U. Piper Sandler reissued a “neutral” rating and issued a $17.00 price target (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. The Goldman Sachs Group cut their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC cut their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wedbush raised their price objective on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Unity Software presently has an average rating of “Hold” and a consensus price target of $23.35.

Unity Software Stock Performance

NYSE:U opened at $20.73 on Monday. Unity Software has a twelve month low of $13.90 and a twelve month high of $43.54. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $19.79 and a 200-day moving average of $19.05. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of -10.11 and a beta of 2.28.

Unity Software (NYSE:U) last posted 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 during 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 business’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.26) EPS. Analysts forecast that Unity Software will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was 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 of the company’s stock, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Unity Software news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was 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 of the company’s stock, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Felix The sold 30,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 281,600 shares of company stock valued at $5,714,000. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of U. Farther Finance Advisors LLC grew its position in Unity Software by 4.0% in the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock valued at $315,000 after acquiring an additional 538 shares during the last quarter. Advisors Asset Management Inc. grew its position in Unity Software by 31.6% in the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after acquiring an additional 562 shares during the last quarter. Tradewinds Capital Management LLC grew its position in Unity Software by 245.6% in the first quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. GAMMA Investing LLC grew its position in Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 949 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Unity Software by 8.2% in the second quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock valued at $216,000 after acquiring an additional 1,010 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

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.