Unity Software (NYSE:U) Stock Rating Lowered by Wall Street Zen

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 Sunday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Wedbush lifted their price objective on shares of Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Citizens Jmp raised their price target on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Oppenheimer lifted their price target on shares of Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Needham & Company LLC boosted their price objective on shares of Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Unity Software currently has a consensus rating of “Moderate Buy” and an average target price of $45.16.

Unity Software Stock Performance

Shares of U stock opened at $45.78 on Friday. The company’s fifty day simple moving average is $41.88 and its 200-day simple moving average is $31.86. Unity Software has a 52 week low of $16.78 and a 52 week 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 company has a market cap of $20.15 billion, a PE ratio of -33.66, a P/E/G ratio of 1.91 and a beta of 2.11.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.39. The firm had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.Unity Software’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. As a group, equities research analysts anticipate that Unity Software will post 0.55 EPS for the current year.

Insider Activity

In other Unity Software news, CEO Matthew Bromberg sold 16,383 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 transaction of $742,313.73. Following the completion of the transaction, the chief executive officer directly owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the transaction, the chief operating officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in U. Atreides Management LP bought a new stake in Unity Software during the 2nd quarter valued at $292,826,000. Resolute Advisors LLC increased its holdings in shares of Unity Software by 473.3% during the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after purchasing an additional 3,934,840 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Unity Software by 52.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after purchasing an additional 1,465,962 shares in the last quarter. Amundi raised its stake in shares of Unity Software by 4.7% during the second quarter. Amundi now owns 2,334,695 shares of the company’s stock valued at $66,726,000 after purchasing an additional 105,268 shares in the last quarter. Finally, Avala Global LP acquired a new stake in Unity Software in the second quarter worth about $62,522,000. 73.46% of the stock is owned by 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.