Unity Software (NYSE:U) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Unity Software (NYSE:U) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

U has been the subject of several other research reports. Bank of America upgraded Unity Software from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $50.00 in a research note on Friday, August 7th. Raymond James Financial began coverage on Unity Software in a report on Monday, June 29th. They issued a “market perform” rating for the company. Weiss Ratings raised Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Citigroup upped their target price on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Oppenheimer raised their price target on shares of Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Trading Down 1.2%

NYSE:U opened at $43.44 on Friday. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of -31.94, a PEG ratio of 1.93 and a beta of 2.06. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average price is $38.20 and its 200-day moving average price is $29.48. Unity Software has a 52 week low of $16.78 and a 52 week high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. During the same period in the previous year, the business earned $0.18 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that Unity Software will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 43,556 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the transaction, the chief operating officer owned 661,855 shares of the company’s stock, valued at approximately $28,797,311.05. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Rebecca Boyden sold 1,032 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.32, for a total transaction of $46,770.24. Following the sale, the senior vice president owned 308,413 shares of the company’s stock, valued at $13,977,277.16. This trade represents a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 109,547 shares of company stock worth $4,884,202 in the last ninety days. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in shares of Unity Software by 2,948.2% during the 2nd quarter. California State Teachers Retirement System now owns 11,202,931 shares of the company’s stock valued at $320,180,000 after buying an additional 10,835,410 shares in the last quarter. Atreides Management LP purchased a new stake in Unity Software in the 2nd quarter worth approximately $292,826,000. Geode Capital Management LLC increased its holdings in Unity Software by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after acquiring an additional 328,595 shares in the last quarter. Norges Bank bought a new stake in Unity Software during the 4th quarter worth approximately $230,285,000. Finally, Resolute Advisors LLC raised its stake in Unity Software by 473.3% during the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after acquiring an additional 3,934,840 shares during the period. Institutional investors own 73.46% of the company’s stock.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.

The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.