JMP Securities Reaffirms “Market Perform” Rating for Unity Software (NYSE:U)

Unity Software (NYSE:U)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a report released on Friday, Benzinga reports.

U has been the topic of a number of other reports. Needham & Company LLC dropped their target price on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wedbush dropped their price objective on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Piper Sandler restated a “neutral” rating and issued a $17.00 target price (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Benchmark dropped their price target on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, Macquarie reduced their price objective on Unity Software from $14.00 to $12.00 and set an “underperform” rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.82.

Unity Software Stock Up 6.2 %

Shares of U stock traded up $1.17 during trading hours on Friday, hitting $20.08. 9,591,754 shares of the company were exchanged, compared to its average volume of 10,075,470. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of -8.96 and a beta of 2.25. Unity Software has a one year low of $13.90 and a one year high of $43.54. The business’s 50-day simple moving average is $16.36 and its two-hundred day simple moving average is $20.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. During the same quarter last year, the business posted ($0.26) EPS. Unity Software’s quarterly revenue was down 15.8% compared to the same quarter last year. Sell-side analysts predict that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 5,472 shares of company stock valued at $90,871. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tradewinds Capital Management LLC grew its stake in shares of Unity Software by 245.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Unity Software by 2,429.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock worth $28,000 after buying an additional 996 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Unity Software by 163.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after buying an additional 1,389 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Unity Software during the 4th quarter valued at $37,000. Finally, Tidemark LLC bought a new stake in shares of Unity Software during the 4th quarter worth $39,000. 73.46% of the stock is 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.