Unity Software (NYSE:U) Stock Price Expected to Rise, Macquarie Analyst Says

Unity Software (NYSE:U) had its price target increased by Macquarie from $15.00 to $16.00 in a research report released on Friday,Benzinga reports. They currently have an underperform rating on the stock.

Several other equities analysts have also commented on the company. The Goldman Sachs Group reduced their price objective on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. UBS Group increased their price objective on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Wedbush increased their price objective on Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company began coverage on Unity Software in a report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.35.

Unity Software Stock Down 7.7 %

Shares of U traded down $1.71 on Friday, reaching $20.50. The company’s stock had a trading volume of 24,571,434 shares, compared to its average volume of 10,404,142. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software has a twelve month low of $13.90 and a twelve month high of $43.54. The stock has a market capitalization of $8.14 billion, a PE ratio of -10.00 and a beta of 2.29. The firm has a fifty day moving average of $20.42 and a 200-day moving average of $18.97.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The company had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same period in the previous year, the business earned ($0.26) earnings per share. The firm’s quarterly revenue was down 15.8% compared to the same quarter last year. Equities analysts predict that Unity Software will post -1.86 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Felix The sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the transaction, the senior vice president now owns 423,679 shares in the company, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Helgason sold 250,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 281,600 shares of company stock valued at $5,714,000 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in Unity Software by 295.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,398 shares of the company’s stock valued at $331,000 after acquiring an additional 9,262 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Unity Software during the first quarter worth about $331,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Unity Software during the first quarter worth about $3,878,000. Atomi Financial Group Inc. increased its stake in shares of Unity Software by 14.7% during the first quarter. Atomi Financial Group Inc. now owns 8,972 shares of the company’s stock worth $240,000 after acquiring an additional 1,147 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Unity Software by 9.6% during the first quarter. Russell Investments Group Ltd. now owns 12,752 shares of the company’s stock worth $340,000 after buying an additional 1,113 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

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.