Unity Software Inc. (NYSE:U) Receives $44.74 Average Price Target from Analysts

Unity Software Inc. (NYSE:U) has been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seventeen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $45.1632.

Several equities research analysts have commented on the company. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective on the stock in a research report on Friday, August 7th. Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $50.00 in a research note on Friday, August 7th. Wedbush increased their price target on shares of Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Citizens Jmp raised their price target on shares of Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Finally, BTIG Research raised their price target on shares of Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 6th.

Unity Software Stock Up 1.0%

Unity Software stock opened at $44.33 on Friday. The business’s 50-day moving average price is $30.92 and its 200 day moving average price is $26.62. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The firm has a market cap of $19.51 billion, a price-to-earnings ratio of -32.60, a price-to-earnings-growth ratio of 3.00 and a beta of 2.04. Unity Software has a 52 week low of $16.78 and a 52 week high of $52.15.

Insider Buying and Selling at Unity Software

In related news, CEO Matthew S. Bromberg sold 138,993 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. The trade was a 8.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the completion of the transaction, the chief accounting officer directly owned 370,654 shares of the company’s stock, valued at $10,074,375.72. The trade was a 3.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

Institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia purchased a new stake in shares of Unity Software in the second quarter valued at approximately $6,101,000. Greenland Capital Management LP purchased a new position in shares of Unity Software during the 2nd quarter valued at approximately $569,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Unity Software in the 2nd quarter valued at $93,000. Quantbot Technologies LP acquired a new stake in Unity Software in the 2nd quarter valued at $2,936,000. Finally, Evolve Private Wealth LLC acquired a new stake in Unity Software in the 2nd quarter valued at $455,000. 73.46% of the stock is owned by institutional investors and hedge funds.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.