Unity Software Inc. (NYSE:U) Receives $32.65 Average Target Price from Brokerages

Unity Software Inc. (NYSE:U) has earned an average recommendation of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.6533.

U has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Bank of America began coverage on Unity Software in a report on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price on the stock. BTIG Research cut Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a report on Wednesday, July 23rd. Morgan Stanley upped their target price on shares of Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Citigroup boosted their target price on shares of Unity Software from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st.

Unity Software Stock Down 1.4%

Shares of U stock opened at $36.63 on Friday. The stock has a market cap of $15.48 billion, a P/E ratio of -34.56 and a beta of 2.32. The stock has a fifty day moving average price of $40.00 and a 200 day moving average price of $29.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software has a one year low of $15.33 and a one year high of $46.94.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the previous year, the business earned ($0.32) earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. Analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Helgason sold 1,350,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $44.43, for a total value of $59,980,500.00. Following the completion of the sale, the director owned 6,139,173 shares in the company, valued at $272,763,456.39. This represents a 18.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jarrod Yahes sold 29,876 shares of Unity Software stock in a transaction on Monday, August 25th. The stock was sold at an average price of $39.32, for a total value of $1,174,724.32. Following the transaction, the chief financial officer directly owned 638,504 shares of the company’s stock, valued at $25,105,977.28. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,233,415 shares of company stock worth $94,949,128. 3.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Unity Software by 10.8% during the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock worth $119,000 after purchasing an additional 288 shares in the last quarter. Allworth Financial LP boosted its holdings in Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after acquiring an additional 412 shares during the period. Farther Finance Advisors LLC grew its position in shares of Unity Software by 4.4% during the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock worth $261,000 after buying an additional 454 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Unity Software by 2.1% during the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after buying an additional 462 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Unity Software by 11.1% during the second quarter. Resona Asset Management Co. Ltd. now owns 5,116 shares of the company’s stock worth $124,000 after acquiring an additional 510 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.