Unity Software (NYSE:U) Trading Up 7.2% – What’s Next?

Unity Software Inc. (NYSE:U)’s stock price rose 7.2% during trading on Tuesday . The stock traded as high as $23.21 and last traded at $23.32. Approximately 2,033,450 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 9,554,587 shares. The stock had previously closed at $21.75.

Analyst Upgrades and Downgrades

U has been the subject of a number of recent analyst reports. Macquarie upped their price target on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, November 8th. UBS Group upped their target price on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price target on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company began coverage on Unity Software in a research report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.81.

Unity Software Trading Up 6.3 %

The firm has a 50 day moving average price of $23.47 and a two-hundred day moving average price of $20.38. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $9.32 billion, a price-to-earnings ratio of -11.34 and a beta of 2.32.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The firm had revenue of $446.52 million for the quarter, compared to the consensus estimate of $428.01 million. During the same quarter in the previous year, the company earned ($0.12) EPS. As a group, equities analysts forecast that Unity Software Inc. will post -1.72 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, SVP Felix The sold 11,719 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.39, for a total transaction of $285,826.41. Following the transaction, the senior vice president now owns 411,960 shares in the company, valued at approximately $10,047,704.40. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Barrysmith sold 1,228 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $24.44, for a total value of $30,012.32. Following the completion of the sale, the chief financial officer now owns 453,638 shares of the company’s stock, valued at approximately $11,086,912.72. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 764,487 shares of company stock valued at $17,521,180. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently modified their holdings of the company. Ariose Capital Management Ltd bought a new stake in shares of Unity Software in the 4th quarter worth $2,299,000. Charles Schwab Investment Management Inc. increased its stake in Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock valued at $42,662,000 after buying an additional 944,709 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after buying an additional 330,088 shares in the last quarter. LMR Partners LLP bought a new position in shares of Unity Software during the 3rd quarter worth approximately $611,000. Finally, Edgestream Partners L.P. boosted its stake in shares of Unity Software by 637.9% in the 3rd quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after buying an additional 88,955 shares during the last quarter. 73.46% of the stock is currently owned by 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.