Unity Software Inc. (NYSE:U) Stock Has Average Price Target of $45.16

Shares of Unity Software Inc. (NYSE:U) have been assigned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seventeen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $45.16.

Several analysts recently issued reports on the company. Needham & Company LLC increased their price target on Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings upgraded Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Citigroup upped their target price on Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Raymond James Financial initiated coverage on Unity Software in a report on Monday, June 29th. They set a “market perform” rating on the stock.

Unity Software Stock Up 6.5%

Shares of NYSE:U opened at $43.58 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15. The stock has a market capitalization of $19.18 billion, a P/E ratio of -32.04, a PEG ratio of 1.79 and a beta of 2.11. The stock has a 50-day simple moving average of $41.28 and a 200-day simple moving average of $31.51.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The company had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Unity Software’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities analysts forecast that Unity Software will post 0.55 earnings per share for the current year.

Insider Activity

In other news, CFO Jarrod Yahes sold 26,017 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total transaction of $1,178,830.27. Following the sale, the chief financial officer owned 678,343 shares in the company, valued at $30,735,721.33. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the transaction, the chief operating officer directly owned 661,855 shares in the company, valued at approximately $28,797,311.05. The trade was a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,547 shares of company stock worth $4,884,202 over the last three months. Insiders own 0.77% of the company’s stock.

Institutional Trading of Unity Software

Several large investors have recently modified their holdings of U. Atreides Management LP purchased a new stake in Unity Software during the 2nd quarter worth approximately $292,826,000. Geode Capital Management LLC grew its position in shares of Unity Software by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after buying an additional 328,595 shares in the last quarter. Norges Bank acquired a new stake in shares of Unity Software during the fourth quarter worth approximately $230,285,000. Resolute Advisors LLC increased its stake in shares of Unity Software by 473.3% in the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after buying an additional 3,934,840 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Unity Software by 52.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after buying an additional 1,465,962 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.