Unity Software (NYSE:U) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market perform rating on shares of Unity Software (NYSE:U) in a research note issued to investors on Friday, Benzinga reports.

A number of other research analysts also recently commented on U. Macquarie lowered their price objective on Unity Software from $14.00 to $12.00 and set an underperform rating for the company in a research note on Friday, August 9th. Stifel Nicolaus upped their price objective on Unity Software from $20.00 to $25.00 and gave the stock a buy rating in a research note on Friday. Piper Sandler restated a neutral rating and set a $17.00 price objective (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Needham & Company LLC lowered their price objective on Unity Software from $31.00 to $23.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, Benchmark lowered their price objective on Unity Software from $16.00 to $10.00 and set a sell rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $27.25.

Unity Software Stock Performance

Shares of U opened at $20.30 on Friday. The business’s 50 day moving average is $16.53 and its two-hundred day moving average is $20.20. Unity Software has a 52-week low of $13.90 and a 52-week high of $43.54. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -9.06 and a beta of 2.25. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The business’s revenue was down 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) EPS. Analysts forecast that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Activity at Unity Software

In related news, SVP Anirma Gupta sold 1,506 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The disclosure for this sale can be found here. Insiders sold 284,672 shares of company stock valued at $5,762,015 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Unity Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after purchasing an additional 208,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Unity Software by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after buying an additional 2,777,884 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after buying an additional 2,787,058 shares during the last quarter. Norges Bank acquired a new stake in shares of Unity Software during the 4th quarter valued at about $379,180,000. Finally, Capital Research Global Investors lifted its holdings in shares of Unity Software by 18.7% during the 1st quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock valued at $227,603,000 after buying an additional 1,342,787 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.