Macquarie Issues Positive Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price objective increased by analysts at Macquarie from $15.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Macquarie’s target price points to a potential downside of 21.95% from the company’s current price.

A number of other equities research analysts also recently weighed in on U. Wells Fargo & Company assumed coverage on shares of Unity Software in a research note on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price target on the stock. UBS Group lifted their target price on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group cut their target price on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Finally, Stifel Nicolaus lifted their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.35.

Unity Software Price Performance

U stock traded down $1.71 during mid-day trading on Friday, hitting $20.50. The stock had a trading volume of 24,533,773 shares, compared to its average volume of 10,404,142. The firm has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $18.99. Unity Software has a 52 week low of $13.90 and a 52 week high of $43.54. 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 firm has a market capitalization of $8.14 billion, a P/E ratio of -10.00 and a beta of 2.29.

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

Insider Transactions at Unity Software

In other news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,600 shares of company stock worth $5,714,000. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of U. GAMMA Investing LLC increased its stake in Unity Software by 343.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 949 shares in the last quarter. Planning Capital Management Corp bought a new stake in Unity Software during the 3rd quarter valued at $34,000. Northwestern Mutual Wealth Management Co. increased its stake in Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares in the last quarter. Blue Trust Inc. increased its stake in Unity Software by 308.8% during the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock valued at $51,000 after purchasing an additional 2,359 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Unity Software by 31.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after acquiring an additional 562 shares in the last quarter. 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.