Unity Software (NYSE:U) Raised to “Buy” at Wall Street Zen

Unity Software (NYSE:U) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Monday, Wall Street Zen reports.

Several other analysts have also recently commented on U. Zacks Research cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. BTIG Research upped their price objective on shares of Unity Software from $51.00 to $53.00 and gave the company a “buy” rating in a report on Friday, October 9th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective on the stock in a research note on Friday, August 7th. Wedbush raised their target price 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. Finally, Raymond James Financial raised shares of Unity Software from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.05.

Unity Software Trading Down 0.0%

Shares of NYSE:U opened at $46.66 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. Unity Software has a 52-week low of $16.78 and a 52-week high of $52.15. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of -34.31, a PEG ratio of 2.04 and a beta of 2.11. The business has a 50-day moving average price of $43.46 and a 200-day moving average price of $33.02.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. The firm had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. During the same quarter in the prior 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 predict that Unity Software will post 0.55 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jarrod Yahes sold 26,017 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $1,178,830.27. Following the completion of the transaction, the chief financial officer directly owned 678,343 shares in the company, valued at approximately $30,735,721.33. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 that occurred on Friday, August 28th. The shares were sold at an average price of $43.51, for a total value of $1,895,121.56. Following the completion of the transaction, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at $28,797,311.05. The trade was a 6.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 109,547 shares of company stock worth $4,884,202 over the last ninety days. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Hedge funds have recently bought and sold shares of the stock. Atreides Management LP purchased a new position in Unity Software during the second quarter worth approximately $292,826,000. Resolute Advisors LLC boosted its stake in Unity Software by 473.3% during 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. Dimensional Fund Advisors LP boosted its stake in Unity Software by 52.8% during 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. Renaissance Technologies LLC acquired a new position in Unity Software during the first quarter worth $54,534,000. Finally, Amundi grew its holdings in Unity Software by 4.7% in the 2nd quarter. Amundi now owns 2,334,695 shares of the company’s stock valued at $66,726,000 after buying an additional 105,268 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

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.