Unity Software (NYSE:U) Trading Up 6.7% – Here’s What Happened

Unity Software Inc. (NYSE:U) shot up 6.7% during trading on Wednesday . The company traded as high as $21.24 and last traded at $21.12. 4,352,872 shares were traded during trading, a decline of 58% from the average session volume of 10,442,671 shares. The stock had previously closed at $19.80.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on U. Wells Fargo & Company began coverage on shares of Unity Software in a research report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Wedbush raised their price target on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. UBS Group lifted their price objective on shares of Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.35.

Unity Software Price Performance

The stock has a market cap of $8.81 billion, a price-to-earnings ratio of -10.32 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50-day simple moving average of $20.75 and a two-hundred day simple moving average of $18.65.

Insider Buying and Selling at Unity Software

In related news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Felix The sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 530,800 shares of company stock worth $10,080,664 over the last ninety days. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in Unity Software by 9.6% in the first quarter. Russell Investments Group Ltd. now owns 12,752 shares of the company’s stock valued at $340,000 after buying an additional 1,113 shares during the period. Vanguard Group Inc. lifted its position in Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after acquiring an additional 208,566 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in Unity Software by 105.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,500 shares of the company’s stock valued at $93,000 after acquiring an additional 1,800 shares in the last quarter. Natixis purchased a new stake in Unity Software in the 1st quarter valued at about $2,843,000. Finally, EntryPoint Capital LLC purchased a new stake in Unity Software in the 1st quarter valued at about $65,000. Institutional investors own 73.46% of the company’s stock.

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.