Wells Fargo & Company Has Lowered Expectations for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price target cut by research analysts at Wells Fargo & Company from $22.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 5.21% from the company’s previous close.

Several other research firms have also commented on U. Wedbush reiterated an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a research report on Thursday, February 13th. Citigroup upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $30.00 price target 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 note on Thursday, February 20th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Finally, Macquarie started coverage on Unity Software in a research note on Monday, March 10th. They set a “neutral” rating and a $24.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.54.

Unity Software Trading Up 19.7 %

Shares of Unity Software stock opened at $20.05 on Tuesday. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of -11.93 and a beta of 2.31. Unity Software has a twelve month low of $13.90 and a twelve month 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 business has a 50-day moving average price of $21.80 and a 200-day moving average price of $22.17.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Equities research analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the sale, the director now owns 3,481,479 shares in the company, valued at $73,076,244.21. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Alexander Blum sold 1,479 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the sale, the chief operating officer now owns 495,648 shares of the company’s stock, valued at approximately $12,520,068.48. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 781,903 shares of company stock worth $17,934,432. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently made changes to their positions in the business. 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 shares of Unity Software during the fourth quarter worth $30,000. Principal Securities Inc. increased its position in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after purchasing an additional 477 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software during the fourth quarter worth $36,000. Finally, GAMMA Investing LLC increased its position in shares of Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.