Unity Software (NYSE:U) Reaches New 52-Week Low After Analyst Downgrade

Shares of Unity Software Inc. (NYSE:UGet Free Report) reached a new 52-week low on Monday after The Goldman Sachs Group lowered their price target on the stock from $29.00 to $26.00. The Goldman Sachs Group currently has a neutral rating on the stock. Unity Software traded as low as $21.60 and last traded at $22.83, with a volume of 2524622 shares traded. The stock had previously closed at $21.69.

Several other analysts also recently commented on the company. Barclays reduced their target price on Unity Software from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Benchmark reiterated a “sell” rating and set a $16.00 price target on shares of Unity Software in a research note on Friday, May 10th. Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Unity Software in a research note on Friday, May 10th. Piper Sandler upgraded Unity Software from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $30.00 in a report on Tuesday, February 27th. Finally, Wedbush reiterated an “outperform” rating and set a $33.50 target price on shares of Unity Software in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.38.

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Insider Transactions at Unity Software

In other Unity Software news, CMO Carol W. Carpenter sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $24.18, for a total transaction of $48,360.00. Following the completion of the sale, the chief marketing officer now directly owns 442,617 shares of the company’s stock, valued at $10,702,479.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Anirma Gupta sold 1,037 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $24.42, for a total transaction of $25,323.54. Following the completion of the transaction, the senior vice president now owns 386,706 shares in the company, valued at $9,443,360.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Carol W. Carpenter sold 2,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $24.18, for a total transaction of $48,360.00. Following the transaction, the chief marketing officer now owns 442,617 shares of the company’s stock, valued at approximately $10,702,479.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 338,917 shares of company stock worth $9,460,820. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently bought and sold shares of U. Raymond James & Associates increased its position in Unity Software by 30.8% during the 3rd quarter. Raymond James & Associates now owns 118,426 shares of the company’s stock valued at $3,717,000 after purchasing an additional 27,870 shares during the period. Strs Ohio bought a new stake in shares of Unity Software in the 3rd quarter valued at about $669,000. TD Asset Management Inc boosted its stake in Unity Software by 7.3% in the 3rd quarter. TD Asset Management Inc now owns 30,258 shares of the company’s stock worth $950,000 after purchasing an additional 2,058 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Unity Software by 8.0% in the 3rd quarter. CIBC Asset Management Inc now owns 8,288 shares of the company’s stock worth $260,000 after purchasing an additional 614 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Unity Software by 2.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 17,602 shares of the company’s stock worth $553,000 after purchasing an additional 433 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 1.5 %

The business’s 50 day moving average is $25.30 and its 200 day moving average is $30.15. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of -10.28 and a beta of 2.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15.

Unity Software (NYSE:UGet Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.89). Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The business had revenue of $609.27 million for the quarter, compared to analyst estimates of $551.01 million. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. Sell-side analysts anticipate that Unity Software Inc. will post -0.63 earnings per share for the current year.

About Unity Software

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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.

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