Insider Selling: Unity Software Inc. (NYSE:U) CMO Sells 797 Shares of Stock
Unity Software Stock Falls 2.3%
Shares of NYSE U traded down $0.67 during midday trading on Friday, reaching $28.82. 249,897 shares of the company’s stock traded hands, compared to its average volume of 8,422,055. The stock has a market cap of $8.67 billion, a P/E ratio of -10.88 and a beta of 1.94. The business has a 50-day simple moving average of $31.79 and a 200-day simple moving average of $37.47. Unity Software Inc. has a 1-year low of $21.22 and a 1-year high of $150.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.41, and a quick ratio of 3.41.
Unity Software (NYSE:U – Get Rating ) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.17). The business had revenue of $322.88 million for the quarter, compared to analyst estimates of $323.33 million. Unity Software had a negative net margin of 63.17% and a negative return on equity of 26.00%. On average, analysts expect that Unity Software Inc. -1.69 EPS for the current financial year will achieve.
Analyzer Upgrades and Downgrades
Several equities analysts have recently issued reports on U shares. Piper Sandler dropped their price target on shares of Unity Software from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Oppenheimer decreased their target price on shares of Unity Software from $60.00 to $28.00 in a research note on Thursday, November 10th. Needham & Company LLC initiated coverage on shares of Unity Software in a research note on Friday, October 7th. They set a “buy” rating and a $50.00 target price for the company. Morgan Stanley initiated coverage on shares of Unity Software in a research note on Monday, November 28th. They set an “equal weight” rating and a $27.50 target price for the company. Finally, Wedbush decreased their target price on shares of Unity Software from $70.00 to $45.00 in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.38.
Institutional inflows and outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in U. Principal Financial Group Inc. increased its holdings in Unity Software by 13.7% during the first quarter. Principal Financial Group Inc. now owns 176,342 shares of the company’s stock valued at $17,496,000 after buying an additional 21,314 shares during the last quarter. Commerce Bank bought a new stake in Unity Software in the first quarter valued at about $313,000. People s United Financial Inc. bought a new stake in Unity Software in the first quarter worth about $372,000. Tcwp LLC bought a new stake in Unity Software in the first quarter worth about $26,000. Finally, Evoke Wealth LLC bought a new stake in Unity Software in the first quarter worth about $113,000. 77.37% of the share is currently owned by hedge funds and other institutional investors.
About Unity software
Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, deliver and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, desktops, 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.
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