Unity Software (NYSE:U) Stock Price Down 9.5% – What’s Next?

Unity Software Inc. (NYSE:U) was down 9.5% on Thursday . The company traded as low as $41.07 and last traded at $39.9110. 15,545,871 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 12,841,989 shares. The stock had previously closed at $44.10.

Analyst Upgrades and Downgrades

U has been the topic of several research reports. Wedbush upped their target price on Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Citizens Jmp raised their price objective on shares of Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Citigroup boosted their target price on shares of Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Piper Sandler increased their price target on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Unity Software presently has an average rating of “Moderate Buy” and a consensus price target of $45.16.

Unity Software Stock Down 4.6%

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 business has a 50-day simple moving average of $39.89 and a 200-day simple moving average of $30.63. The stock has a market cap of $18.52 billion, a P/E ratio of -31.17, a PEG ratio of 1.89 and a beta of 2.06.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. The company had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts expect that Unity Software Inc. will post 0.55 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, CEO Matthew S. Bromberg sold 16,383 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the sale, the chief executive officer owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Boyden sold 1,032 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the completion of the transaction, the senior vice president directly owned 308,413 shares in the company, valued at approximately $13,977,277.16. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of U. Renaissance Technologies LLC bought a new stake in Unity Software in the 1st quarter valued at $54,534,000. Entropy Technologies LP bought a new position in shares of Unity Software during the 1st quarter worth about $1,985,000. HB Wealth Management LLC raised its position in shares of Unity Software by 10.8% during the second quarter. HB Wealth Management LLC now owns 274,554 shares of the company’s stock valued at $7,847,000 after buying an additional 26,762 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Unity Software in the second quarter valued at about $1,370,000. Finally, Susquehanna Fundamental Investments LLC grew its position in Unity Software by 1,196.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 150,611 shares of the company’s stock worth $4,304,000 after buying an additional 138,995 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

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.