Unity Software (NYSE:U) Price Target Raised to $35.00

Unity Software (NYSE:U) had its price target boosted by Jefferies Financial Group from $29.00 to $35.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC dropped their price objective on shares of Unity Software from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus dropped their price objective on shares of Unity Software from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company increased their price objective on shares of Unity Software from $19.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. Bank of America initiated coverage on shares of Unity Software in a research note on Thursday, June 26th. They set an “underperform” rating and a $15.00 price objective on the stock. Finally, UBS Group dropped their price objective on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.43.

Unity Software Stock Performance

NYSE:U opened at $36.67 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a 50-day moving average of $25.17 and a two-hundred day moving average of $22.90. The stock has a market cap of $15.24 billion, a P/E ratio of -32.74 and a beta of 2.29. Unity Software has a 1-year low of $13.90 and a 1-year high of $38.96.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. The business had revenue of $435.00 million for 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 revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 EPS. On average, research analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Mark Barrysmith sold 1,011 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $32.30, for a total value of $32,655.30. Following the completion of the transaction, the chief accounting officer owned 464,372 shares of the company’s stock, valued at approximately $14,999,215.60. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew S. Bromberg sold 133,072 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the completion of the transaction, the chief executive officer directly owned 1,222,812 shares of the company’s stock, valued at $25,972,526.88. This represents a 9.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,276,809 shares of company stock valued at $31,561,623 in the last ninety days. 3.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in U. Norges Bank purchased a new stake in Unity Software in the 4th quarter worth approximately $269,320,000. Atreides Management LP raised its holdings in shares of Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock valued at $184,752,000 after purchasing an additional 5,607,572 shares in the last quarter. Slate Path Capital LP bought a new position in shares of Unity Software during the 4th quarter valued at $62,387,000. Broad Peak Investment Advisers Pte Ltd bought a new position in shares of Unity Software during the 1st quarter valued at $47,648,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Unity Software during the 1st quarter valued at $43,265,000. 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.