Unity Software Inc. (NYSE:U) Receives Consensus Rating of “Moderate Buy” from Analysts

Unity Software Inc. (NYSE:U) has earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $45.1632.

Several analysts have recently commented on U shares. Wells Fargo & Company increased their target price on shares of Unity Software from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Citizens Jmp boosted their price target on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Needham & Company LLC upped their price objective on shares of Unity Software from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. BTIG Research increased their price objective on shares of Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $50.00 in a research note on Friday, August 7th.

Insider Buying and Selling

In related news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction 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 trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 19,009 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $516,664.62. Following the sale, the chief operating officer directly owned 730,069 shares of the company’s stock, valued at $19,843,275.42. The trade was a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 198,321 shares of company stock valued at $5,390,783 over the last quarter. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. lifted its stake in Unity Software by 12.9% in the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after purchasing an additional 308 shares during the last quarter. Larson Financial Group LLC increased its position in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after buying an additional 341 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in Unity Software by 3.1% in the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock worth $656,000 after buying an additional 449 shares during the last quarter. Captrust Financial Advisors increased its position in Unity Software by 2.1% in the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after buying an additional 462 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in shares of Unity Software by 8.9% in the fourth quarter. Ritholtz Wealth Management now owns 5,732 shares of the company’s stock valued at $253,000 after buying an additional 468 shares during the period. 73.46% of the stock is currently owned by institutional investors.

Unity Software Price Performance

U opened at $46.33 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 1.95. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of -34.07, a P/E/G ratio of 3.13 and a beta of 2.04. The firm’s fifty day moving average price is $31.58 and its two-hundred day moving average price is $26.79. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15.

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.