Unity Software (NYSE:U) Shares Down 5.9% – What’s Next?

Unity Software Inc. (NYSE:UGet Free Report) shares were down 5.9% during trading on Monday . The stock traded as low as $26.75 and last traded at $26.49. Approximately 1,080,797 shares traded hands during trading, a decline of 93% from the average daily volume of 16,412,152 shares. The stock had previously closed at $28.16.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on U shares. Wall Street Zen cut shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Bank of America lifted their price objective on shares of Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Citigroup decreased their price objective on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.77.

Get Our Latest Stock Analysis on Unity Software

Unity Software Price Performance

The business’s 50 day moving average is $22.06 and its 200-day moving average is $32.57. The firm has a market capitalization of $11.70 billion, a P/E ratio of -17.08, a PEG ratio of 10.37 and a beta of 2.04. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52.

Unity Software (NYSE:UGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million for the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative net margin of 34.99% and a negative return on equity of 1.27%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.30) earnings per share. As a group, sell-side analysts predict that Unity Software Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, COO Alexander Blum sold 2,541 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.76, for a total value of $47,669.16. Following the sale, the chief operating officer owned 548,425 shares in the company, valued at $10,288,453. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jarrod Yahes sold 6,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $21.03, for a total transaction of $130,491.15. Following the completion of the sale, the chief financial officer owned 728,381 shares in the company, valued at $15,317,852.43. This represents a 0.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,684 shares of company stock worth $773,350 over the last quarter. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Unity Software

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Unity Software by 52.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after buying an additional 1,465,962 shares in the last quarter. Parallel Advisors LLC boosted its position in Unity Software by 21.5% in the first quarter. Parallel Advisors LLC now owns 60,183 shares of the company’s stock valued at $1,320,000 after buying an additional 10,662 shares in the last quarter. KBC Group NV boosted its position in Unity Software by 1.0% in the first quarter. KBC Group NV now owns 52,505 shares of the company’s stock valued at $1,152,000 after buying an additional 545 shares in the last quarter. Swiss National Bank boosted its position in Unity Software by 0.4% in the first quarter. Swiss National Bank now owns 627,400 shares of the company’s stock valued at $13,765,000 after buying an additional 2,600 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Unity Software by 1.2% in the first quarter. California Public Employees Retirement System now owns 558,113 shares of the company’s stock valued at $12,245,000 after buying an additional 6,474 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

(Get Free Report)

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

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