Unity Software (NYSE:U) Upgraded by Wall Street Zen to Buy Rating

Unity Software (NYSE:U) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently commented on U. Citizens Jmp raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Hsbc Global Res upgraded shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday, February 21st. Finally, Morgan Stanley reduced their price objective on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Unity Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.14.

Unity Software Stock Performance

Shares of Unity Software stock opened at $25.05 on Monday. 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 market cap of $10.41 billion, a P/E ratio of -14.91 and a beta of 2.34. The firm has a 50 day simple moving average of $21.20 and a 200 day simple moving average of $22.41. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $30.88.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. During the same quarter last year, the business posted $0.28 earnings per share. Unity Software’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the sale, the director now directly owns 2,398,146 shares in the company, valued at approximately $63,287,072.94. This represents a 9.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David Helgason sold 261,473 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the sale, the director now owns 7,489,173 shares in the company, valued at $192,471,746.10. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,286,987 shares of company stock valued at $30,302,451 in the last three months. Company insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. increased its position in shares of Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after acquiring an additional 477 shares during the period. Farther Finance Advisors LLC increased its position in shares of Unity Software by 3.5% in the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock valued at $324,000 after acquiring an additional 488 shares during the period. Amalgamated Bank increased its position in shares of Unity Software by 3.0% in the first quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock valued at $355,000 after acquiring an additional 525 shares during the period. Bouvel Investment Partners LLC increased its position in shares of Unity Software by 1.7% in the first quarter. Bouvel Investment Partners LLC now owns 35,595 shares of the company’s stock valued at $697,000 after acquiring an additional 580 shares during the period. Finally, Signaturefd LLC increased its position in shares of Unity Software by 26.3% in the first quarter. Signaturefd LLC now owns 3,658 shares of the company’s stock valued at $72,000 after acquiring an additional 762 shares during the period. Hedge funds and other institutional investors 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.