Unity Software (NYSE:U) Rating Reiterated by Wedbush

Wedbush reiterated their outperform rating on shares of Unity Software (NYSE:U) in a report issued on Thursday, Benzinga reports. They currently have a $33.50 price objective on the stock.

Several other brokerages also recently commented on U. Piper Sandler raised Unity Software from an underweight rating to a neutral rating and lowered their target price for the stock from $35.00 to $30.00 in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their price objective on Unity Software from $29.00 to $32.00 and gave the company a neutral rating in a research note on Tuesday, January 9th. Needham & Company LLC lowered their price objective on Unity Software from $40.00 to $31.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Citigroup lowered their price objective on Unity Software from $50.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Finally, William Blair reaffirmed an outperform rating on shares of Unity Software in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Unity Software has an average rating of Hold and an average target price of $37.03.

Unity Software Price Performance

U stock traded up $0.58 during midday trading on Thursday, reaching $24.74. The company had a trading volume of 5,753,162 shares, compared to its average volume of 5,937,102. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of -11.46 and a beta of 2.40. The stock has a 50 day moving average price of $26.08 and a 200-day moving average price of $30.25. Unity Software has a 1-year low of $22.20 and a 1-year high of $50.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.60 and a quick ratio of 2.60.

Unity Software (NYSE:U) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) EPS. Equities research analysts expect that Unity Software will post -0.63 earnings per share for the current year.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total transaction of $6,647,500.00. Following the completion of the sale, the director now directly owns 4,498,146 shares of the company’s stock, valued at $119,605,702.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Unity Software news, SVP Felix The sold 4,374 shares of Unity Software stock in a transaction on Monday, February 26th. The shares were sold at an average price of $32.55, for a total transaction of $142,373.70. Following the transaction, the senior vice president now directly owns 298,948 shares of the company’s stock, valued at approximately $9,730,757.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total transaction of $6,647,500.00. Following the transaction, the director now directly owns 4,498,146 shares in the company, valued at $119,605,702.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 338,917 shares of company stock valued at $9,460,820. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several hedge funds have recently modified their holdings of the company. BluePath Capital Management LLC increased its position in shares of Unity Software by 6.7% during the fourth quarter. BluePath Capital Management LLC now owns 5,453 shares of the company’s stock valued at $223,000 after acquiring an additional 342 shares during the last quarter. Kovack Advisors Inc. increased its position in shares of Unity Software by 1.5% during the fourth quarter. Kovack Advisors Inc. now owns 26,411 shares of the company’s stock valued at $1,080,000 after acquiring an additional 380 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Unity Software by 3.2% during the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after acquiring an additional 407 shares during the last quarter. Teacher Retirement System of Texas increased its position in Unity Software by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 17,602 shares of the company’s stock worth $553,000 after buying an additional 433 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its position in Unity Software by 0.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock worth $4,750,000 after buying an additional 440 shares during the last quarter. 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.