Unity Software (NYSE:U) Coverage Initiated at Bank of America

Equities research analysts at Bank of America started coverage on shares of Unity Software (NYSE:U) in a report released on Thursday. The brokerage set an “underperform” rating and a $15.00 price target on the stock. Bank of America‘s price objective indicates a potential downside of 37.91% from the stock’s current price.

A number of other research firms have also weighed in on U. Citizens Jmp raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Barclays cut their price target on Unity Software from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. UBS Group reduced their price target on Unity Software from $30.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wall Street Zen raised Unity Software from a “hold” rating to a “buy” rating in a research report on Monday, June 9th. Finally, Macquarie initiated coverage on Unity Software in a research note on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.47.

Unity Software Stock Performance

NYSE U opened at $24.16 on Thursday. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $30.88. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of -21.57 and a beta of 2.34. The business has a fifty day moving average of $22.64 and a 200-day moving average of $22.38. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, Director Tomer Bar-Zeev sold 9,551 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $25.51, for a total value of $243,646.01. Following the transaction, the director now directly owns 748,099 shares of the company’s stock, valued at $19,084,005.49. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Helgason sold 261,473 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the completion of the sale, the director now directly owns 7,489,173 shares of the company’s stock, valued at $192,471,746.10. The trade was a 3.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,294,611 shares of company stock valued at $30,506,382. 3.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Several large investors have recently bought and sold shares of U. Principal Securities Inc. boosted its stake in shares of Unity Software by 50.5% in the fourth 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 period. Farther Finance Advisors LLC lifted its holdings in Unity Software by 3.5% in the 4th quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock worth $324,000 after buying an additional 488 shares in the last quarter. Amalgamated Bank lifted its holdings in Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock worth $355,000 after buying an additional 525 shares in the last quarter. Bouvel Investment Partners LLC boosted its position in Unity Software by 1.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company’s stock valued at $697,000 after buying an additional 580 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Unity Software by 26.3% during the first quarter. Signaturefd LLC now owns 3,658 shares of the company’s stock valued at $72,000 after acquiring an additional 762 shares in the last quarter. 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.