Morgan Stanley Lowers Unity Software (NYSE:U) Price Target to $25.00

Unity Software (NYSE:U) had its price target lowered by Morgan Stanley from $32.00 to $25.00 in a research note published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Citizens Jmp raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Macquarie initiated coverage on Unity Software in a research report on Monday, March 10th. They set a “neutral” rating and a $24.00 price objective on the stock. Needham & Company LLC lifted their target price on Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 21st. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company decreased their price objective on Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.96.

Unity Software Stock Performance

NYSE U opened at $19.20 on Thursday. Unity Software has a twelve month low of $13.90 and a twelve month high of $30.88. The stock has a market cap of $7.86 billion, a PE ratio of -11.43 and a beta of 2.31. The stock has a fifty day simple moving average of $21.54 and a 200-day simple moving average of $22.03. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The firm had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Equities analysts anticipate that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the transaction, the director now directly owns 2,981,479 shares of the company’s stock, valued at approximately $59,748,839.16. This trade represents a 5.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark Barrysmith sold 1,445 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $20.61, for a total transaction of $29,781.45. Following the completion of the sale, the chief accounting officer now directly owns 483,417 shares of the company’s stock, valued at $9,963,224.37. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 780,636 shares of company stock worth $17,904,132. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Unity Software by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock valued at $699,335,000 after purchasing an additional 625,872 shares during the period. Capital International Investors lifted its holdings in shares of Unity Software by 10.4% in the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after buying an additional 1,786,032 shares during the period. Norges Bank purchased a new stake in shares of Unity Software in the fourth quarter valued at approximately $269,320,000. Geode Capital Management LLC grew its holdings in Unity Software by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after acquiring an additional 84,480 shares during the period. Finally, Slate Path Capital LP purchased a new position in Unity Software in the fourth quarter worth $62,387,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.