Unity Software (NYSE:U) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Unity Software (NYSE:U) from a buy rating to a hold rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC raised their target price on shares of Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, August 7th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target on the stock in a research note on Friday, August 7th. Piper Sandler increased their price objective on shares of Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft upgraded Unity Software from a “hold” rating to a “buy” rating and raised their price objective for the company from $31.00 to $50.00 in a research report on Friday, August 7th. Finally, Weiss Ratings raised Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Stock Down 0.1%

NYSE U opened at $43.57 on Friday. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The stock has a market cap of $19.17 billion, a PE ratio of -32.04, a P/E/G ratio of 1.91 and a beta of 2.11. The stock’s 50 day moving average is $41.58 and its 200 day moving average is $31.68.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company’s revenue was up 24.0% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. Research analysts predict that Unity Software will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, COO Alexander Blum sold 43,556 shares of Unity Software stock in a transaction on Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the completion of the transaction, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at $28,797,311.05. This trade represents a 6.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Bromberg sold 16,383 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the completion of the sale, the chief executive officer owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. This trade represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 109,547 shares of company stock worth $4,884,202. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new stake in Unity Software during the second quarter worth approximately $56,000. Versant Capital Management Inc lifted its stake in shares of Unity Software by 37.6% in the 2nd quarter. Versant Capital Management Inc now owns 2,041 shares of the company’s stock valued at $58,000 after purchasing an additional 558 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of Unity Software by 105.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,286 shares of the company’s stock valued at $65,000 after purchasing an additional 1,172 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Unity Software in the 1st quarter worth approximately $54,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Unity Software by 59.5% in the 1st quarter. Pacer Advisors Inc. now owns 2,626 shares of the company’s stock worth $58,000 after purchasing an additional 980 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.