Unity Software (NYSE:U) Reaches New 1-Year High on Analyst Upgrade

Unity Software Inc. (NYSE:U)’s share price hit a new 52-week high during mid-day trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $29.00 to $35.00. Jefferies Financial Group currently has a buy rating on the stock. Unity Software traded as high as $33.68 and last traded at $33.79, with a volume of 11618724 shares. The stock had previously closed at $29.69.

U has been the subject of a number of other research reports. UBS Group decreased their target price on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wedbush raised Unity Software to a “strong-buy” rating in a research report on Tuesday, July 1st. Bank of America started coverage on Unity Software in a research note on Thursday, June 26th. They issued an “underperform” rating and a $15.00 target price on the stock. Needham & Company LLC lowered their price target on Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded Unity Software from a “buy” rating to a “hold” rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 50,000 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $25.06, for a total transaction of $1,253,000.00. Following the completion of the transaction, the director owned 2,348,146 shares of the company’s stock, valued at $58,844,538.76. The trade was a 2.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shlomo Dovrat sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the transaction, the director directly owned 189,089 shares of the company’s stock, valued at $5,674,560.89. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,226,809 shares of company stock valued at $29,913,123 in the last three months. Company insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several large investors have recently bought and sold shares of U. Cornerstone Planning Group LLC grew its position in Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock worth $25,000 after buying an additional 1,212 shares in the last quarter. CX Institutional acquired a new stake in Unity Software during the second quarter worth $25,000. Anderson Financial Strategies LLC bought a new stake in Unity Software in the 4th quarter valued at $28,000. Banque Transatlantique SA acquired a new position in shares of Unity Software in the 1st quarter valued at $28,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software in the 4th quarter valued at $36,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Stock Up 14.3%

The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. The business’s fifty day moving average price is $24.53 and its 200 day moving average price is $22.70. The company has a market capitalization of $14.11 billion, a P/E ratio of -30.31 and a beta of 2.29.

Unity Software (NYSE:U) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current fiscal year.

Unity Software Company Profile

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.