Wells Fargo & Company Issues Pessimistic Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its target price decreased by analysts at Wells Fargo & Company from $27.00 to $22.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.19% from the company’s current price.

A number of other brokerages also recently commented on U. Jefferies Financial Group boosted their price objective on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a report on Friday, February 21st. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a report on Thursday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Unity Software has a consensus rating of “Hold” and a consensus target price of $24.65.

Unity Software Stock Performance

U stock traded down $2.66 on Monday, hitting $21.53. The company had a trading volume of 3,353,120 shares, compared to its average volume of 12,509,413. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a 12-month low of $13.90 and a 12-month high of $30.88. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of -12.81 and a beta of 2.27. The stock’s 50-day simple moving average is $22.95 and its 200 day simple moving average is $21.83.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. As a group, equities research analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 1,362 shares of the company’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 completion of the transaction, the chief accounting officer now owns 452,276 shares in the company, valued at $9,909,367.16. This represents a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Helgason sold 38,924 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $26.92, for a total transaction of $1,047,834.08. Following the sale, the director now directly owns 7,828,494 shares of the company’s stock, valued at approximately $210,743,058.48. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 872,397 shares of company stock worth $21,047,619. 6.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Ariose Capital Management Ltd bought a new stake in Unity Software in the 4th quarter valued at about $2,299,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after buying an additional 944,709 shares in the last quarter. CIBC Asset Management Inc increased its stake in Unity Software by 2,665.4% in the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after purchasing an additional 330,088 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Unity Software during the third quarter valued at approximately $611,000. Finally, Edgestream Partners L.P. lifted its position in shares of Unity Software by 637.9% in the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after acquiring an additional 88,955 shares in the last quarter. 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.