Unity Software Inc. (NYSE:U) Receives $37.71 Consensus Target Price from Analysts

Shares of Unity Software Inc. (NYSE:U) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.7111.

A number of equities analysts recently issued reports on U shares. Bank of America raised their price target on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, March 27th. Barclays raised their price target on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wells Fargo & Company raised their price target on Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wall Street Zen lowered Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $37.00 price target on shares of Unity Software in a report on Friday, March 27th.

Unity Software Stock Performance

NYSE U opened at $27.55 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software has a 52-week low of $16.78 and a 52-week high of $52.15. The business’s 50-day moving average price is $27.08 and its 200 day moving average price is $29.90. The firm has a market cap of $12.03 billion, a P/E ratio of -17.55, a P/E/G ratio of 3.47 and a beta of 2.06.

Insider Activity

In related news, CFO Jarrod Yahes sold 24,021 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $652,890.78. Following the transaction, the chief financial officer owned 704,360 shares of the company’s stock, valued at $19,144,504.80. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer owned 370,654 shares of the company’s stock, valued at approximately $10,074,375.72. The trade was a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 198,321 shares of company stock valued at $5,390,783. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Unity Software by 59.5% in the first quarter. Pacer Advisors Inc. now owns 2,626 shares of the company’s stock valued at $58,000 after purchasing an additional 980 shares during the period. Parallel Advisors LLC lifted its position in Unity Software by 21.5% in the first quarter. Parallel Advisors LLC now owns 60,183 shares of the company’s stock valued at $1,320,000 after purchasing an additional 10,662 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Unity Software in the first quarter valued at about $1,984,000. Edgestream Partners L.P. acquired a new stake in Unity Software in the first quarter valued at about $1,006,000. Finally, Amundi lifted its position in Unity Software by 74.0% in the first quarter. Amundi now owns 2,229,427 shares of the company’s stock valued at $48,914,000 after purchasing an additional 948,266 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.