Unity Software (NYSE:U) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Unity Software (NYSE:U) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently commented on U. Wedbush upped their target price on shares of Unity Software from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Bank of America began coverage on shares of Unity Software in a report on Thursday, June 26th. They set an “underperform” rating and a $15.00 price target for the company. Morgan Stanley increased their price target on shares of Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. HSBC cut shares of Unity Software from a “buy” rating to a “hold” rating and increased their price target for the stock from $37.50 to $40.80 in a report on Tuesday, September 30th. Finally, Citigroup increased their price target on shares of Unity Software from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.16.

Unity Software Price Performance

Shares of NYSE:U opened at $34.74 on Tuesday. The company has a 50-day simple moving average of $40.13 and a 200-day simple moving average of $30.00. Unity Software has a one year low of $15.33 and a one year high of $46.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of -32.77 and a beta of 2.32.

Unity Software (NYSE:U) last announced its 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 business had revenue of $440.94 million during the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the previous year, the company posted ($0.32) earnings per share. Unity Software’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other Unity Software news, 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 transaction of $2,514,870.33. Following the transaction, the chief operating officer directly owned 603,811 shares in the company, valued at approximately $23,796,191.51. This represents a 9.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jarrod Yahes sold 29,876 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $39.32, for a total transaction of $1,174,724.32. Following the transaction, the chief financial officer owned 638,504 shares in the company, valued at $25,105,977.28. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,233,415 shares of company stock valued at $94,949,128 in the last ninety days. Company insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

Several large investors have recently modified their holdings of U. Cornerstone Planning Group LLC grew its position in shares of Unity Software by 30,300.0% in the first 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 last quarter. CX Institutional acquired a new stake in shares of Unity Software in the second quarter valued at approximately $25,000. Banque Transatlantique SA acquired a new stake in shares of Unity Software in the first quarter valued at approximately $28,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Unity Software in the second quarter valued at approximately $28,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Unity Software in the third quarter valued at approximately $40,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.