Unity Software (NYSE:U) Raised to Strong-Buy at Zacks Research

Unity Software (NYSE:U) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on the company. Citizens Jmp restated a “market outperform” rating and issued a $37.00 target price on shares of Unity Software in a research report on Friday, March 27th. Piper Sandler initiated coverage on Unity Software in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 price target for the company. Wedbush increased their price target on Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Raymond James Financial initiated coverage on Unity Software in a research note on Monday, June 29th. They issued a “market perform” rating for the company. Finally, BTIG Research raised their price target on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.77.

Unity Software Stock Performance

U opened at $31.76 on Monday. The business’s 50 day moving average is $28.21 and its 200-day moving average is $28.11. The stock has a market cap of $13.86 billion, a PE ratio of -20.23, a price-to-earnings-growth ratio of 3.71 and a beta of 2.05. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software has a twelve month low of $16.78 and a twelve month high of $52.15.

Insider Transactions at Unity Software

In other Unity Software news, CFO Jarrod Yahes sold 24,021 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the sale, the chief financial officer directly owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the completion of the sale, the senior vice president directly owned 309,445 shares of the company’s stock, valued at $8,416,904. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 198,321 shares of company stock valued at $5,390,783 in the last quarter. 0.77% of the stock is owned by company insiders.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Unity Software by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after buying an additional 45,481 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Unity Software in the 1st quarter worth $260,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Unity Software by 28.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,542 shares of the company’s stock worth $134,000 after acquiring an additional 1,241 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Unity Software by 11.3% during the second quarter. California Public Employees Retirement System now owns 520,774 shares of the company’s stock worth $12,603,000 after purchasing an additional 53,015 shares during the period. Finally, Sei Investments Co. raised its position in shares of Unity Software by 1,135.6% during the second quarter. Sei Investments Co. now owns 224,715 shares of the company’s stock worth $5,438,000 after purchasing an additional 206,529 shares during the period. 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.