Unity Software Inc. (NYSE:U) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Unity Software Inc. (NYSE:U) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.61.

U has been the subject of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Morgan Stanley increased their price objective on shares of Unity Software from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Wedbush reissued an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC lifted their price target on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

Unity Software Stock Performance

NYSE:U opened at $20.52 on Wednesday. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The stock has a market cap of $8.41 billion, a P/E ratio of -12.21 and a beta of 2.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a 50-day moving average of $22.58 and a two-hundred day moving average of $22.31.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The firm had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. On average, research analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Anirma Gupta sold 31,948 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total transaction of $806,048.04. Following the completion of the transaction, the senior vice president now directly owns 542,942 shares in the company, valued at approximately $13,698,426.66. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Alexander Blum sold 1,479 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.26, for a total value of $37,359.54. Following the completion of the transaction, the chief operating officer now directly owns 495,648 shares of the company’s stock, valued at $12,520,068.48. This trade represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 865,236 shares of company stock valued at $20,849,425. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Unity Software in the fourth quarter valued at approximately $269,320,000. Slate Path Capital LP acquired a new stake in Unity Software in the fourth quarter worth approximately $62,387,000. Capital International Investors boosted its stake in Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Unity Software by 3,843.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after purchasing an additional 1,725,070 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after buying an additional 1,521,165 shares in the last quarter. 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.