Jefferies Financial Group Issues Pessimistic Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its target price lowered by Jefferies Financial Group from $28.00 to $24.00 in a report released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. Wedbush restated an “outperform” rating and issued a $27.00 price objective on shares of Unity Software in a report on Thursday, February 13th. Macquarie started coverage on shares of Unity Software in a research report on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price on the stock. Citigroup upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, March 11th. Finally, JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unity Software currently has an average rating of “Moderate Buy” and a consensus target price of $25.32.

Unity Software Price Performance

Unity Software stock opened at $19.64 on Monday. The company has a fifty day simple moving average of $22.54 and a 200-day simple moving average of $22.32. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of -11.69 and a beta of 2.27. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a 52-week low of $13.90 and a 52-week high of $30.88.

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

Insider Buying and Selling at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 236,337 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the sale, the director now owns 3,161,809 shares of the company’s stock, valued at approximately $75,630,471.28. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 865,236 shares of company stock valued at $20,849,425. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Anderson Financial Strategies LLC acquired a new position in Unity Software during the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new position in shares of Unity Software during the fourth quarter worth approximately $30,000. Principal Securities Inc. increased its holdings in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Unity Software in the 4th quarter valued at $36,000. Finally, GAMMA Investing LLC boosted its stake in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.