Unity Software (NYSE:U) Given New $32.00 Price Target at Wedbush

Unity Software (NYSE:UFree Report) had its price objective hoisted by Wedbush from $30.00 to $32.00 in a research note released on Friday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on U. Weiss Ratings restated a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Citigroup reduced their target price on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Barclays reduced their price objective on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Finally, Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.77.

View Our Latest Stock Analysis on U

Unity Software Stock Up 4.8%

Shares of NYSE U opened at $28.01 on Friday. The stock has a market capitalization of $12.22 billion, a P/E ratio of -17.84, a P/E/G ratio of 9.85 and a beta of 2.04. The company has a 50-day moving average price of $22.06 and a 200-day moving average price of $32.57. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.84 and a quick ratio of 1.84.

Unity Software (NYSE:UGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $503.09 million during the quarter, compared to analysts’ expectations of $490.64 million. Unity Software had a negative net margin of 34.99% and a negative return on equity of 1.27%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share. On average, equities research analysts forecast that Unity Software will post 0.13 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other news, COO Alexander Blum sold 2,541 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.76, for a total value of $47,669.16. Following the completion of the sale, the chief operating officer directly owned 548,425 shares in the company, valued at approximately $10,288,453. The trade was a 0.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jarrod Yahes sold 6,205 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $21.03, for a total transaction of $130,491.15. Following the sale, the chief financial officer owned 728,381 shares of the company’s stock, valued at $15,317,852.43. This represents a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 41,684 shares of company stock worth $773,350. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in U. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Unity Software by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Unity Software in the 1st quarter worth about $260,000. Northwestern Mutual Wealth Management Co. grew its position in Unity Software by 28.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock valued at $134,000 after purchasing an additional 1,241 shares during the last quarter. California Public Employees Retirement System grew its position in Unity Software by 11.3% during the 2nd quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock valued at $12,603,000 after purchasing an additional 53,015 shares during the last quarter. Finally, Sei Investments Co. grew its position in Unity Software by 1,135.6% during the 2nd quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock valued at $5,438,000 after purchasing an additional 206,529 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

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About Unity Software

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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.

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