Unity Software’s (U) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Unity Software (NYSE:U) in a research note released on Friday, Benzinga reports. The brokerage currently has a $17.00 price target on the stock, down from their prior price target of $25.00.

Other analysts have also recently issued reports about the company. JMP Securities reissued a market perform rating on shares of Unity Software in a research note on Friday, May 10th. Barclays lowered 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 reissued a sell rating and set a $16.00 target price on shares of Unity Software in a research note on Friday, May 10th. Stifel Nicolaus lowered their target price on Unity Software from $25.00 to $20.00 and set a buy rating for the company in a research note on Friday. Finally, Macquarie lowered their target price on Unity Software from $20.00 to $14.00 and set an underperform rating for the company in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $26.46.

Unity Software Trading Up 8.2 %

Shares of U stock traded up $1.18 on Friday, reaching $15.54. The company had a trading volume of 35,526,561 shares, compared to its average volume of 9,780,860. 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 stock has a market cap of $6.07 billion, a PE ratio of -6.94 and a beta of 2.25. The company has a 50-day moving average of $16.33 and a 200-day moving average of $23.12. 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The company had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. Unity Software’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.26) EPS. On average, equities analysts forecast that Unity Software will post -1.81 earnings per share for the current year.

Insider Activity

In other news, insider Marc Whitten sold 86,768 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $20.60, for a total value of $1,787,420.80. Following the completion of the sale, the insider now owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Unity Software news, CMO Carol W. Carpenter sold 18,775 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $358,602.50. Following the completion of the sale, the chief marketing officer now owns 423,842 shares of the company’s stock, valued at approximately $8,095,382.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc Whitten sold 86,768 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total value of $1,787,420.80. Following the sale, the insider now directly owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 245,005 shares of company stock valued at $4,798,048. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently modified their holdings of U. Norges Bank acquired a new stake in shares of Unity Software during the fourth quarter worth $379,180,000. Capital International Investors lifted its holdings 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 worth $210,193,000 after buying an additional 6,376,034 shares in the last quarter. Capital Research Global Investors lifted its holdings 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 worth $293,658,000 after buying an additional 6,004,655 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Unity Software by 32.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after buying an additional 2,787,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Unity Software by 30.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after buying an additional 2,777,884 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.