Unity Software (NYSE:U) Given New $50.00 Price Target at Citigroup

Unity Software (NYSE:U) had its price target boosted by Citigroup from $44.00 to $50.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. JMP Securities lifted their price target on shares of Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Jefferies Financial Group boosted their target price on shares of Unity Software from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on shares of Unity Software from $24.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Finally, Barclays boosted their target price on shares of Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Unity Software has a consensus rating of “Hold” and a consensus target price of $32.05.

Unity Software Trading Down 4.5%

NYSE:U opened at $38.22 on Wednesday. Unity Software has a 12 month low of $15.33 and a 12 month high of $46.94. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of -36.06 and a beta of 2.32. 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 company’s 50 day moving average is $39.24 and its 200-day moving average is $28.81.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period in the prior year, the business earned ($0.32) EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling

In other news, SVP Anirma Gupta sold 2,296 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $43.99, for a total value of $101,001.04. Following the completion of the sale, the senior vice president directly owned 628,453 shares of the company’s stock, valued at $27,645,647.47. This represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Alexander Blum sold 63,813 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total value of $2,514,870.33. Following the completion of the sale, the chief operating officer directly owned 603,811 shares of the company’s stock, valued at approximately $23,796,191.51. This trade represents a 9.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,084,426 shares of company stock worth $88,173,284 over the last quarter. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently modified their holdings of the business. CX Institutional acquired a new position in shares of Unity Software in the 2nd quarter valued at approximately $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Unity Software in the 2nd quarter valued at approximately $28,000. Cornerstone Planning Group LLC grew its position in shares of Unity Software by 30,300.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares during the period. Roxbury Financial LLC acquired a new position in shares of Unity Software in the 3rd quarter valued at approximately $60,000. Finally, Banque Transatlantique SA acquired a new position in shares of Unity Software in the 1st quarter valued at approximately $28,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.