Unity Software (NYSE:U) PT Raised to $27.00

Unity Software (NYSE:U) had its price target lifted by equities research analysts at Wedbush from $21.00 to $27.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 35.41% from the stock’s previous close.

Several other equities analysts have also weighed in on U. Piper Sandler reaffirmed a “neutral” rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Needham & Company LLC decreased their price objective on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark dropped their target price 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. JMP Securities restated a “market perform” rating on shares of Unity Software in a research note on Friday. Finally, Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.25.

Unity Software Stock Up 0.2 %

Shares of U stock traded up $0.03 during trading hours on Monday, reaching $19.94. 6,786,592 shares of the company’s stock were exchanged, compared to its average volume of 10,152,645. Unity Software has a 1 year low of $13.90 and a 1 year high of $43.54. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. The stock has a market cap of $7.91 billion, a PE ratio of -8.84 and a beta of 2.25. The stock’s fifty day moving average price is $16.44 and its two-hundred day moving average price is $20.26.

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

Insider Buying and Selling at Unity Software

In other news, SVP Anirma Gupta sold 1,506 shares of the firm’s 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 in the company, valued at $6,851,604.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Unity Software news, Director David Helgason sold 250,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares in the company, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. Insiders sold a total of 285,472 shares of company stock worth $5,775,071 over the last three months. Insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds have recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its position in shares of Unity Software by 245.6% during 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. lifted its position in shares of Unity Software by 2,429.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock worth $28,000 after purchasing an additional 996 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $36,000 after acquiring an additional 1,389 shares in the last quarter. Principal Securities Inc. acquired a new stake in Unity Software during the 4th quarter worth $37,000. Finally, Tidemark LLC acquired a new stake in Unity Software during the 4th quarter worth $39,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

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.