Unity Software’s (U) Market Perform Rating Reiterated at JMP Securities

Unity Software (NYSE:U)‘s stock had its “market perform” rating restated by analysts at JMP Securities in a research note issued to investors on Friday, Benzinga reports.

A number of other equities analysts have also recently issued reports on the stock. Benchmark cut their target price on shares of Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group cut their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Needham & Company LLC dropped their price target on Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $17.00 price target (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Finally, Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.82.

Unity Software Price Performance

Shares of NYSE:U traded up $1.17 during trading on Friday, hitting $20.08. 9,591,754 shares of the stock were exchanged, compared to its average volume of 10,075,470. The company has a market cap of $7.97 billion, a PE ratio of -8.96 and a beta of 2.25. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $16.36 and a two-hundred day moving average price of $20.49. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54.

Unity Software (NYSE:U) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. During the same period in the previous year, the business earned ($0.26) earnings per share. Unity Software’s quarterly revenue was down 15.8% compared to the same quarter last year. On average, analysts forecast that Unity Software will post -1.86 EPS for the current year.

Insider Buying and Selling

In other news, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 5,472 shares of company stock valued at $90,871. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in U. Norges Bank acquired a new position in Unity Software in the 4th quarter worth $379,180,000. Capital International Investors boosted its holdings in Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after purchasing an additional 6,376,034 shares during the last quarter. Capital Research Global Investors grew its stake in Unity Software by 510.2% during the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after purchasing an additional 6,004,655 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after purchasing an additional 2,787,058 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Unity Software by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after purchasing an additional 2,777,884 shares in the last quarter. Hedge funds and other institutional investors 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.