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

Unity Software (NYSE:U) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. Weiss Ratings raised shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, August 7th. Piper Sandler upped their price target on Unity Software from $45.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $50.00 in a research report on Friday, August 7th. Finally, Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Unity Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Trading Up 0.1%

NYSE U opened at $44.00 on Friday. The business’s fifty day moving average is $37.92 and its 200 day moving average is $29.30. Unity Software has a twelve month low of $16.78 and a twelve month high of $52.15. The company has a market cap of $19.37 billion, a price-to-earnings ratio of -32.36, a price-to-earnings-growth ratio of 1.93 and a beta of 2.06. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55.

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

Insider Activity

In other news, COO Alexander Blum sold 43,556 shares of Unity Software stock in a transaction dated Friday, August 28th. The stock was 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 approximately $28,797,311.05. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jarrod Yahes sold 26,017 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the transaction, the chief financial officer directly owned 678,343 shares in the company, valued at $30,735,721.33. This represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 109,547 shares of company stock worth $4,884,202 in the last three months. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently added to or reduced their stakes in U. Wellington Management Group LLP boosted its holdings in shares of Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after buying an additional 6,734,285 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Unity Software by 2,948.2% in the 2nd quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company’s stock valued at $320,180,000 after acquiring an additional 10,835,410 shares in the last quarter. Atreides Management LP bought a new stake in shares of Unity Software in the 2nd quarter valued at $292,826,000. Geode Capital Management LLC lifted its position in shares of Unity Software by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock valued at $258,547,000 after acquiring an additional 328,595 shares during the period. Finally, Norges Bank acquired a new position in shares of Unity Software during the 4th quarter valued at $230,285,000. 73.46% of the stock is currently owned by institutional investors.

About Unity Software

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 media.

The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.