Unity Software (NYSE:U) Price Target Cut to $16.00 by Analysts at Jefferies Financial Group

Unity Software (NYSE:U) had its price objective cut by Jefferies Financial Group from $24.00 to $16.00 in a report released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on U. Morgan Stanley upped their price target on shares of Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Macquarie assumed coverage on Unity Software in a research report on Monday, March 10th. They issued a “neutral” rating and a $24.00 target price for the company. Benchmark upgraded Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Citizens Jmp raised Unity Software from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.75.

Unity Software Stock Up 1.8 %

Shares of Unity Software stock opened at $17.22 on Monday. 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 has a 1-year low of $13.90 and a 1-year high of $30.88. The business’s fifty day moving average price is $22.16 and its two-hundred day moving average price is $22.27. The company has a market capitalization of $7.05 billion, a P/E ratio of -10.25 and a beta of 2.31.

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

Insider Buying and Selling at Unity Software

In related news, Director David Helgason sold 38,924 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total value of $1,047,834.08. Following the completion of the sale, the director now directly owns 7,828,494 shares of the company’s stock, valued at approximately $210,743,058.48. This represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 236,337 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total value of $5,653,181.04. Following the sale, the director now owns 3,161,809 shares of the company’s stock, valued at $75,630,471.28. The trade was a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 781,903 shares of company stock valued at $17,934,432. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after acquiring an additional 411 shares in the last quarter. Principal Securities Inc. increased its position in Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after purchasing an additional 477 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Unity Software by 3.5% during the 4th quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock worth $324,000 after purchasing an additional 488 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Unity Software by 4.9% during the 3rd quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock valued at $349,000 after buying an additional 723 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Unity Software by 0.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 141,632 shares of the company’s stock valued at $3,182,000 after buying an additional 973 shares during the last quarter. 73.46% of the stock is 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.