Jefferies Financial Group Lowers Unity Software (NYSE:U) Price Target to $16.00

Unity Software (NYSE:U) had its price objective decreased by stock analysts at Jefferies Financial Group from $24.00 to $16.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential downside of 4.13% from the stock’s current price.

U has been the topic of several other research reports. Morgan Stanley increased their price target on shares of Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. UBS Group increased their price objective on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Citigroup upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, March 11th. Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Barclays lifted their price objective on Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.54.

Unity Software Stock Performance

Shares of Unity Software stock opened at $16.69 on Monday. The firm has a market capitalization of $6.84 billion, a P/E ratio of -9.93 and a beta of 2.31. Unity Software has a 52 week low of $13.90 and a 52 week high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average price of $21.90 and a 200 day moving average price of $22.20.

Unity Software (NYSE:U) last announced its quarterly earnings data 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 firm had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. Sell-side analysts expect that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In other news, SVP Anirma Gupta sold 31,948 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the transaction, the senior vice president now owns 542,942 shares in the company, valued at $13,698,426.66. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark Barrysmith sold 1,362 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $21.91, for a total value of $29,841.42. Following the sale, the chief accounting officer now owns 452,276 shares of the company’s stock, valued at $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 781,903 shares of company stock valued at $17,934,432 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in Unity Software by 5.5% during the third quarter. The Manufacturers Life Insurance Company now owns 86,602 shares of the company’s stock worth $1,959,000 after buying an additional 4,497 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Unity Software by 463.7% during the 3rd quarter. Janus Henderson Group PLC now owns 119,000 shares of the company’s stock worth $2,691,000 after acquiring an additional 97,889 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Unity Software during the 3rd quarter valued at about $4,390,000. M&T Bank Corp boosted its position in shares of Unity Software by 140.1% during the 3rd quarter. M&T Bank Corp now owns 28,581 shares of the company’s stock valued at $646,000 after acquiring an additional 16,676 shares during the last quarter. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Unity Software in the third quarter valued at about $386,000. 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.