Unity Software (NYSE:U) Price Target Raised to $54.00

Unity Software (NYSE:U) had its price objective upped by Wells Fargo & Company from $51.00 to $54.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on U. HSBC lowered Unity Software from a “buy” rating to a “hold” rating and boosted their target price for the company from $37.50 to $40.80 in a research report on Tuesday, September 30th. Citigroup lifted their target price on Unity Software from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Hsbc Global Res cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. BTIG Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Thursday, December 11th. Finally, Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.32.

Unity Software Trading Down 1.4%

Shares of Unity Software stock opened at $44.66 on Thursday. The stock has a 50 day moving average of $43.25 and a 200 day moving average of $38.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of -42.53, a PEG ratio of 46.81 and a beta of 2.04. Unity Software has a fifty-two week low of $15.33 and a fifty-two week high of $52.15.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $470.62 million during the quarter, compared to analysts’ expectations of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.31) EPS. As a group, research analysts predict that Unity Software will post -1.25 earnings per share for the current year.

Insider Activity

In other Unity Software news, CFO Jarrod Yahes sold 27,742 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the transaction, the chief financial officer owned 546,129 shares of the company’s stock, valued at approximately $23,368,859.91. This trade represents a 4.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 14,407 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total value of $720,494.07. Following the sale, the chief accounting officer directly owned 394,479 shares of the company’s stock, valued at approximately $19,727,894.79. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,651,471 shares of company stock valued at $75,307,029 over the last 90 days. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Unity Software by 2.8% during the third quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock worth $1,383,647,000 after buying an additional 930,293 shares during the period. Slate Path Capital LP grew its holdings in shares of Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after acquiring an additional 4,048,484 shares during the period. Wellington Management Group LLP increased its stake in Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after purchasing an additional 6,734,285 shares in the last quarter. Norges Bank acquired a new position in Unity Software during the second quarter worth $151,221,000. Finally, Geode Capital Management LLC grew its holdings in Unity Software by 0.7% in the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock valued at $122,587,000 after purchasing an additional 36,105 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Unity Software Company Profile

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.