Unity Software (NYSE:U) Given New $10.00 Price Target at Benchmark

Unity Software (NYSE:U) had its target price decreased by equities researchers at Benchmark from $16.00 to $10.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. Benchmark’s target price would suggest a potential downside of 34.90% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday. Barclays decreased their price target on shares of Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Unity Software in a research note on Friday, May 10th. Stifel Nicolaus decreased their price target on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $17.00 price target (down from $25.00) on shares of Unity Software in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.18.

Unity Software Price Performance

Shares of U traded up $1.00 during trading hours on Friday, reaching $15.36. The company had a trading volume of 26,160,492 shares, compared to its average volume of 9,715,525. The firm has a 50 day simple moving average of $16.38 and a 200-day simple moving average of $23.33. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of -6.92 and a beta of 2.25. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. The business’s revenue was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) EPS. Research analysts expect that Unity Software will post -1.81 earnings per share for the current year.

Insider Activity at Unity Software

In other news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Marc Whitten sold 31,466 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total transaction of $601,000.60. Following the completion of the sale, the insider now owns 958,241 shares of the company’s stock, valued at $18,302,403.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,005 shares of company stock worth $4,798,048. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

A number of hedge funds have recently made changes to their positions in U. Norges Bank acquired a new position in Unity Software in the fourth quarter worth $379,180,000. Capital International Investors raised its stake in shares of Unity Software by 426.1% during the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after purchasing an additional 6,376,034 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after purchasing an additional 6,004,655 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after acquiring an additional 2,787,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after acquiring an additional 2,777,884 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

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.