Barclays Increases Unity Software (NYSE:U) Price Target to $33.00

Unity Software (NYSE:UGet Rating) had its target price boosted by Barclays from $22.00 to $33.00 in a research report issued on Wednesday, The Fly reports. Barclays‘s price objective would indicate a potential downside of 5.61% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 target price on shares of Unity Software in a report on Tuesday, November 15th. Bank of America initiated coverage on shares of Unity Software in a report on Friday, September 30th. They issued a “neutral” rating and a $40.00 target price on the stock. Wedbush reduced their price objective on shares of Unity Software from $70.00 to $45.00 in a research report on Thursday, November 10th. Credit Suisse Group reduced their price objective on shares of Unity Software from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Finally, Morgan Stanley initiated coverage on shares of Unity Software in a research report on Monday, November 28th. They issued an “equal weight” rating and a $27.50 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Unity Software currently has an average rating of “Hold” and an average target price of $40.03.

Unity Software Price Performance

U stock opened at $34.96 on Wednesday. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of -13.00 and a beta of 2.05. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.77. Unity Software has a 12-month low of $21.22 and a 12-month high of $119.65. The company’s fifty day simple moving average is $31.96 and its 200 day simple moving average is $35.41.

Unity Software (NYSE:UGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.17). Unity Software had a negative net margin of 63.17% and a negative return on equity of 26.00%. The company had revenue of $322.88 million for the quarter, compared to analyst estimates of $323.33 million. On average, analysts expect that Unity Software will post -1.69 earnings per share for the current year.

Insider Activity

In related news, CMO Carol W. Carpenter sold 797 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $34.40, for a total transaction of $27,416.80. Following the completion of the transaction, the chief marketing officer now directly owns 437,978 shares in the company, valued at $15,066,443.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CMO Carol W. Carpenter sold 797 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $34.40, for a total transaction of $27,416.80. Following the completion of the transaction, the chief marketing officer now directly owns 437,978 shares in the company, valued at $15,066,443.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Carol W. Carpenter sold 3,408 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $35.70, for a total value of $121,665.60. Following the completion of the sale, the chief marketing officer now owns 434,570 shares of the company’s stock, valued at approximately $15,514,149. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,330 shares of company stock worth $2,431,296. 6.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Several institutional investors have recently bought and sold shares of U. Clearbridge Investments LLC boosted its holdings in Unity Software by 2,365.2% during the 1st quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock valued at $438,545,000 after acquiring an additional 4,241,060 shares during the period. Vanguard Group Inc. lifted its holdings in Unity Software by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock worth $1,714,261,000 after buying an additional 2,531,507 shares during the period. ARK Investment Management LLC lifted its holdings in Unity Software by 22.7% in the 3rd quarter. ARK Investment Management LLC now owns 11,263,159 shares of the company’s stock worth $358,844,000 after buying an additional 2,087,448 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Unity Software by 184.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,411,870 shares of the company’s stock worth $88,805,000 after buying an additional 1,564,719 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Unity Software by 30.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,525,506 shares of the company’s stock worth $240,269,000 after buying an additional 1,524,282 shares during the period. 82.50% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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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.

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