Unity Software (NYSE:U) Trading 9.5% Higher – What’s Next?

Unity Software Inc. (NYSE:U) rose 9.5% during trading on Monday . The stock traded as high as $27.53 and last traded at $27.5040. 5,431,175 shares changed hands during trading, a decline of 63% from the average daily volume of 14,782,011 shares. The stock had previously closed at $25.11.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a research report on Thursday, January 15th. Morgan Stanley increased their price objective on Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Citigroup raised their target price on Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Benchmark reaffirmed a “hold” rating on shares of Unity Software in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Unity Software has a consensus rating of “Moderate Buy” and a consensus price target of $45.27.

Unity Software Trading Up 9.5%

The company has a 50 day moving average of $42.30 and a 200 day moving average of $40.02. The firm has a market cap of $11.76 billion, a P/E ratio of -26.18, a PEG ratio of 26.32 and a beta of 2.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78.

Insider Activity at Unity Software

In other news, CEO Matthew S. Bromberg sold 41,025 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,697,614.50. Following the transaction, the chief executive officer owned 1,192,541 shares in the company, valued at approximately $49,347,346.58. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Alexander Blum sold 40,693 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the completion of the sale, the chief operating officer owned 563,118 shares of the company’s stock, valued at $23,301,822.84. This represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,368,021 shares of company stock worth $64,424,675 over the last quarter. 3.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently made changes to their positions in U. Wellington Management Group LLP lifted its position in shares of Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the last quarter. Norges Bank acquired a new position in shares of Unity Software during the second quarter worth approximately $151,221,000. Slate Path Capital LP boosted its position in shares of Unity Software by 25.4% in the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after acquiring an additional 4,048,484 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Unity Software in the third quarter worth $106,233,000. Finally, Duquesne Family Office LLC bought a new position in Unity Software during the second quarter worth $42,932,000. 73.46% of the stock is owned by institutional investors and hedge funds.

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.