Unity Software (NYSE:U) Stock Rating Lowered by Wedbush

Unity Software (NYSE:U) was downgraded by Wedbush from a “strong-buy” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Barclays decreased their target price on shares of Unity Software from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday, February 21st. Citizens Jmp upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their target price on Unity Software from $24.00 to $16.00 and set a “hold” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.21.

Unity Software Trading Down 0.1 %

Shares of U opened at $20.63 on Wednesday. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The firm’s 50 day simple moving average is $20.72 and its 200 day simple moving average is $21.99. The company has a market capitalization of $8.57 billion, a P/E ratio of -12.28 and a beta of 2.29. 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 (NYSE:U) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. Unity Software’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Tomer Bar-Zeev sold 166,667 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $21.59, for a total transaction of $3,598,340.53. Following the sale, the director now owns 2,814,812 shares of the company’s stock, valued at $60,771,791.08. This represents a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Helgason sold 38,924 shares of Unity Software 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 transaction, the director now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 782,231 shares of company stock valued at $18,033,528. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Several institutional investors have recently added to or reduced their stakes in U. Cornerstone Planning Group LLC grew its stake in Unity Software by 30,300.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $25,000 after acquiring an additional 1,212 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of Unity Software during the fourth quarter worth $28,000. R Squared Ltd acquired a new position in Unity Software during the 4th quarter valued at about $30,000. Principal Securities Inc. raised its position in shares of Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Unity Software during the fourth quarter worth $36,000. Institutional investors 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.