Wells Fargo & Company Cuts Unity Software (NYSE:U) Price Target to $22.00

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

A number of other research firms have also recently weighed in on U. Morgan Stanley boosted their price objective on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Barclays upped their price target on shares of Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. 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. UBS Group upped their target price on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.61.

Unity Software Trading Up 2.6 %

U opened at $21.52 on Monday. The stock has a 50-day moving average of $22.88 and a 200 day moving average of $21.88. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The firm has a market cap of $8.81 billion, a P/E ratio of -12.81 and a beta of 2.27.

Unity Software (NYSE:U) last announced its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. As a group, research analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In other news, CFO Mark Barrysmith sold 1,228 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $24.44, for a total value of $30,012.32. Following the sale, the chief financial officer now directly owns 453,638 shares in the company, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the transaction, the director now owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. This trade represents a 6.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 864,537 shares of company stock valued at $20,839,722. 6.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the fourth quarter worth $28,000. R Squared Ltd acquired a new stake in Unity Software during the 4th quarter worth about $30,000. Principal Securities Inc. grew its stake in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares during the last quarter. Planning Capital Management Corp acquired a new position in shares of Unity Software in the third quarter valued at about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software in the fourth quarter valued at about $36,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.