Unity Software (NYSE:U) Shares Down 7.6% – What’s Next?

Unity Software Inc. (NYSE:U)’s stock price was down 7.6% during trading on Friday . The stock traded as low as $17.40 and last traded at $17.40. Approximately 7,095,044 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 10,403,077 shares. The stock had previously closed at $18.84.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Oppenheimer restated a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. Stifel Nicolaus increased their target price on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group lifted their price target on shares of Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Needham & Company LLC increased their price objective on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.35.

Unity Software Stock Performance

The firm has a market cap of $7.05 billion, a price-to-earnings ratio of -8.53 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $20.64 and its 200 day moving average is $18.86.

Insider Buying and Selling

In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,600 shares of company stock valued at $5,714,000. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 949 shares during the period. Planning Capital Management Corp bought a new stake in Unity Software in the third quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. increased its position in Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares during the period. Brooklyn Investment Group bought a new position in Unity Software during the 3rd quarter worth approximately $43,000. Finally, Blue Trust Inc. lifted its position in shares of Unity Software by 308.8% in the 2nd quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock worth $51,000 after purchasing an additional 2,359 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.