Unity Software (NYSE:U) Price Target Cut to $22.00 by Analysts at Wells Fargo & Company

Unity Software (NYSE:U) had its target price cut by Wells Fargo & Company from $27.00 to $22.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts also recently issued reports about the company. 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. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Needham & Company LLC raised their target price on shares of Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group upped their price target on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.27.

Unity Software Stock Down 10.8 %

Shares of NYSE:U opened at $21.58 on Monday. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $22.93 and its 200-day simple moving average is $21.86. The company has a market cap of $8.84 billion, a price-to-earnings ratio of -12.84 and a beta of 2.27.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate 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 company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. As a group, equities research analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insider Activity

In other Unity Software 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 transaction of $806,048.04. Following the completion of the sale, the senior vice president now owns 542,942 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 236,337 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total value of $5,653,181.04. Following the completion of the transaction, the director now owns 3,161,809 shares in the company, valued at approximately $75,630,471.28. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 864,537 shares of company stock valued at $20,839,722 in the last 90 days. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

Several large investors have recently made changes to their positions in U. Vanguard Group Inc. grew its holdings in Unity Software by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock worth $699,335,000 after acquiring an additional 625,872 shares in the last quarter. Capital International Investors raised its holdings in shares of Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after purchasing an additional 1,786,032 shares during the period. Norges Bank bought a new position in Unity Software in the fourth quarter worth about $269,320,000. Geode Capital Management LLC lifted its holdings in shares of Unity Software by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after purchasing an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP bought a new stake in Unity Software in the fourth quarter valued at $62,387,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.