Unity Software (NYSE:U) Upgraded at Wedbush

Unity Software (NYSE:U) was upgraded by research analysts at Wedbush to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

U has been the subject of several other research reports. UBS Group lowered their price objective on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company dropped their price objective on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered Unity Software from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Jefferies Financial Group raised Unity Software from a “hold” rating to a “buy” rating and upped their price target for the stock from $22.00 to $29.00 in a research note on Friday, May 30th. Finally, Needham & Company LLC reduced their price objective on Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.47.

Unity Software Stock Up 1.1%

Shares of NYSE U opened at $24.28 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74. Unity Software has a 52 week low of $13.90 and a 52 week high of $30.88. The stock has a market capitalization of $10.09 billion, a P/E ratio of -21.68 and a beta of 2.29. The stock’s fifty day moving average is $23.06 and its 200 day moving average is $22.30.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same quarter last year, the firm earned $0.28 earnings per share. Unity Software’s quarterly revenue was down 5.5% on a year-over-year basis. Sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, Director James M. Whitehurst sold 72,955 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $1,549,564.20. Following the completion of the transaction, the director directly owned 240,311 shares of the company’s stock, valued at $5,104,205.64. This represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.39, for a total value of $6,597,500.00. Following the sale, the director owned 2,398,146 shares in the company, valued at $63,287,072.94. This trade represents a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,127,944 shares of company stock valued at $27,166,375 over the last three months. Insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in shares of Unity Software by 0.7% in the 1st quarter. Rhumbline Advisers now owns 316,933 shares of the company’s stock worth $6,209,000 after buying an additional 2,081 shares during the last quarter. Focus Partners Wealth purchased a new stake in Unity Software during the first quarter worth about $260,000. Bayforest Capital Ltd raised its position in Unity Software by 175.5% in the first quarter. Bayforest Capital Ltd now owns 6,045 shares of the company’s stock worth $118,000 after acquiring an additional 3,851 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Unity Software by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after acquiring an additional 45,481 shares during the last quarter. Finally, Sender Co & Partners Inc. bought a new position in shares of Unity Software during the 1st quarter valued at approximately $2,042,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.