UBS Group Cuts Unity Software (NYSE:U) Price Target to $22.00

Unity Software (NYSE:U) had its price target decreased by equities researchers at UBS Group from $30.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 20.36% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Jefferies Financial Group dropped their target price on shares of Unity Software from $24.00 to $16.00 and set a “hold” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Finally, Macquarie assumed coverage on shares of Unity Software in a research note on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.46.

Unity Software Stock Performance

Shares of U traded down $0.80 on Friday, reaching $18.28. 1,739,507 shares of the stock traded hands, compared to its average volume of 11,455,941. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of -10.88 and a beta of 2.31. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The stock’s 50-day moving average price is $21.75 and its 200-day moving average price is $22.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last announced 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 net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Equities analysts forecast that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other news, COO Alexander Blum sold 1,479 shares of Unity Software stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total transaction of $37,359.54. Following the transaction, the chief operating officer now owns 495,648 shares in the company, valued at $12,520,068.48. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tomer Bar-Zeev sold 236,337 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 3,161,809 shares of the company’s stock, valued at approximately $75,630,471.28. The trade was a 6.95 % 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 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

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