Unity Software (NYSE:U) Stock Price Down 7.6% – Here’s Why

Unity Software Inc. (NYSE:U) traded down 7.6% on Friday . The stock traded as low as $17.40 and last traded at $17.40. 7,095,044 shares traded hands during trading, a decline of 32% from the average session volume of 10,403,077 shares. The stock had previously closed at $18.84.

Analyst Ratings Changes

A number of brokerages recently issued reports on U. Macquarie increased their target price on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, November 8th. Wedbush raised their price objective on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Stifel Nicolaus boosted 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. Wells Fargo & Company initiated coverage on shares of Unity Software in a research report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price target on the stock. Finally, Barclays boosted their price objective on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus target price of $23.35.

Unity Software Stock Down 7.2 %

The stock has a market capitalization of $7.05 billion, a P/E ratio of -8.53 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.36. The stock has a fifty day moving average price of $20.64 and a 200 day moving average price of $18.86.

Insider Buying and Selling at Unity Software

In related news, Director David Helgason sold 250,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 281,600 shares of company stock valued at $5,714,000 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of U. Quantinno Capital Management LP increased its stake in Unity Software by 1,169.2% in the third quarter. Quantinno Capital Management LP now owns 198,810 shares of the company’s stock valued at $4,497,000 after acquiring an additional 183,146 shares during the last quarter. Quarry LP boosted its holdings in shares of Unity Software by 232.0% in the 3rd quarter. Quarry LP now owns 4,422 shares of the company’s stock worth $100,000 after purchasing an additional 3,090 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Unity Software by 463.7% during the 3rd quarter. Janus Henderson Group PLC now owns 119,000 shares of the company’s stock valued at $2,691,000 after purchasing an additional 97,889 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Unity Software by 7,349.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 26,893 shares of the company’s stock valued at $608,000 after buying an additional 26,532 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Unity Software in the 3rd quarter worth approximately $12,317,000. 73.46% of the stock is 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.