Analysts Set Unity Software Inc. (NYSE:U) PT at $43.04

Shares of Unity Software Inc. (NYSE:U) have earned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $43.0444.

A number of equities research analysts recently commented on U shares. Morgan Stanley upped their price target on shares of Unity Software from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Piper Sandler upgraded shares of Unity Software from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $59.00 in a report on Thursday, December 11th. HSBC downgraded Unity Software from a “buy” rating to a “hold” rating and boosted their price target for the company from $37.50 to $40.80 in a report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft began coverage on Unity Software in a research report on Wednesday, October 22nd. They set a “hold” rating and a $39.00 price target for the company. Finally, Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th.

Unity Software Trading Up 0.1%

NYSE U opened at $45.11 on Friday. The firm has a market cap of $19.30 billion, a PE ratio of -42.96 and a beta of 2.04. Unity Software has a 1-year low of $15.33 and a 1-year high of $52.15. The stock has a 50-day moving average of $41.99 and a 200-day moving average of $37.70. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $470.62 million for 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 business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.31) EPS. As a group, sell-side analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, CAO Mark Barrysmith sold 14,407 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 394,479 shares in the company, valued at approximately $19,727,894.79. This represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $47.00, for a total transaction of $2,350,000.00. Following the completion of the sale, the director directly owned 873,146 shares of the company’s stock, valued at approximately $41,037,862. This represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,651,471 shares of company stock valued at $75,307,029 over the last quarter. 3.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of 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 during the period. Norges Bank bought a new position in Unity Software in the second quarter worth $151,221,000. Atreides Management LP lifted its position in Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock valued at $184,752,000 after buying an additional 5,607,572 shares during the period. Slate Path Capital LP boosted its holdings in shares of Unity Software by 25.4% during the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after buying an additional 4,048,484 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Unity Software in the 3rd quarter worth about $106,233,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

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.