Wells Fargo & Company Has Lowered Expectations for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price target decreased by Wells Fargo & Company from $27.00 to $22.00 in a report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

U has been the subject of a number of other reports. Morgan Stanley upped their price objective on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Jefferies Financial Group upped their price target on Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, February 21st. UBS Group raised their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday, February 21st. Finally, Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Unity Software has an average rating of “Hold” and a consensus target price of $25.27.

Unity Software Stock Performance

U opened at $21.58 on Monday. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of -12.84 and a beta of 2.27. The business has a 50 day moving average price of $22.93 and a two-hundred day moving average price of $21.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insider Buying and Selling

In related news, CAO Mark Barrysmith sold 1,395 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now directly owns 450,881 shares in the company, valued at $9,775,100.08. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tomer Bar-Zeev sold 166,667 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total value of $3,498,340.33. Following the completion of the transaction, the director now owns 3,481,479 shares of the company’s stock, valued at $73,076,244.21. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 864,537 shares of company stock worth $20,839,722 in the last quarter. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

Several institutional investors have recently made changes to their positions in U. Ariose Capital Management Ltd acquired a new stake in Unity Software during the fourth quarter valued at approximately $2,299,000. Charles Schwab Investment Management Inc. raised its position in Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after purchasing an additional 944,709 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Unity Software by 2,665.4% during the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after purchasing an additional 330,088 shares during the last quarter. LMR Partners LLP acquired a new stake in Unity Software in the 3rd quarter valued at about $611,000. Finally, Edgestream Partners L.P. raised its position in Unity Software by 637.9% in the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after purchasing an additional 88,955 shares during the last quarter. 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.