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

Shares of Unity Software Inc. (NYSE:U) have been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.20.

Several analysts have issued reports on U shares. Barclays upped their target price on Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. JMP Securities boosted their price target on shares of Unity Software from $30.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Wedbush upped their price target on shares of Unity Software from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Morgan Stanley lifted their price objective on Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th.

Unity Software Stock Down 1.4%

U opened at $45.89 on Wednesday. The business’s fifty day simple moving average is $36.81 and its 200 day simple moving average is $27.26. Unity Software has a 52 week low of $15.33 and a 52 week high of $46.94. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The stock has a market cap of $19.39 billion, a PE ratio of -43.29 and a beta of 2.33.

Unity Software (NYSE:U) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The firm had revenue of $440.94 million during the quarter, compared to analysts’ expectations of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.Unity Software’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) earnings per share. As a group, research analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, CEO Matthew S. Bromberg sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $40.03, for a total value of $4,803,600.00. Following the sale, the chief executive officer owned 1,222,812 shares of the company’s stock, valued at $48,949,164.36. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Helgason sold 1,350,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the completion of the transaction, the director owned 6,139,173 shares in the company, valued at $272,763,456.39. The trade was a 18.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,983,781 shares of company stock valued at $82,548,778. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in U. Norges Bank purchased a new stake in Unity Software in the second quarter worth $151,221,000. Atreides Management LP raised its holdings in Unity Software by 146.7% in the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after purchasing an additional 5,607,572 shares in the last quarter. Slate Path Capital LP raised its holdings in Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd purchased a new stake in shares of Unity Software in the 1st quarter worth about $47,648,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Unity Software during the 1st quarter valued at about $43,265,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.