Piper Sandler Reaffirms “Neutral” Rating for Unity Software (NYSE:U)

Unity Software (NYSE:U)‘s stock had its “neutral” rating restated by research analysts at Piper Sandler in a research report issued on Friday, Benzinga reports. They currently have a $17.00 price target on the stock, down from their previous price target of $25.00. Piper Sandler’s price target indicates a potential upside of 5.72% from the company’s previous close.

Several other brokerages also recently issued reports on U. Stifel Nicolaus reduced their price objective on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Macquarie decreased their price objective on Unity Software from $20.00 to $14.00 and set an “underperform” rating on the stock in a report on Thursday, June 27th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Friday, May 10th. Wedbush reiterated an “outperform” rating and set a $33.50 target price on shares of Unity Software in a research report on Monday, July 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.75.

Unity Software Stock Performance

Shares of NYSE U traded up $1.72 during midday trading on Friday, reaching $16.08. 12,997,174 shares of the company were exchanged, compared to its average volume of 9,624,931. The stock has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $23.33. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.70. The stock has a market cap of $6.29 billion, a P/E ratio of -6.89 and a beta of 2.25. Unity Software has a 1 year low of $13.90 and a 1 year high of $43.54.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. The firm had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period last year, the company earned ($0.26) earnings per share. On average, research analysts forecast that Unity Software will post -1.81 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, insider Marc Whitten sold 86,768 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the sale, the insider now owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Unity Software news, CMO Carol W. Carpenter sold 18,775 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total value of $358,602.50. Following the sale, the chief marketing officer now directly owns 423,842 shares in the company, valued at $8,095,382.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marc Whitten sold 86,768 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the completion of the transaction, the insider now directly owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 245,005 shares of company stock worth $4,798,048. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kovack Advisors Inc. boosted its position in Unity Software by 1.5% during the fourth quarter. Kovack Advisors Inc. now owns 26,411 shares of the company’s stock valued at $1,080,000 after purchasing an additional 380 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Unity Software by 0.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock worth $4,750,000 after acquiring an additional 440 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Unity Software by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after purchasing an additional 562 shares during the period. Bouvel Investment Partners LLC boosted its stake in Unity Software by 2.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 22,783 shares of the company’s stock valued at $608,000 after purchasing an additional 597 shares during the period. Finally, Johnson Investment Counsel Inc. grew its holdings in Unity Software by 3.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 20,232 shares of the company’s stock valued at $827,000 after buying an additional 663 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

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.