Unity Software (NYSE:U) Shares Up 6.6% Following Analyst Upgrade

Unity Software Inc. (NYSE:U) shares shot up 6.6% during trading on Tuesday after UBS Group raised their price target on the stock from $35.00 to $40.00. UBS Group currently has a neutral rating on the stock. Unity Software traded as high as $37.29 and last traded at $37.60. 1,918,469 shares were traded during mid-day trading, a decline of 84% from the average session volume of 12,056,939 shares. The stock had previously closed at $35.27.

U has been the topic of a number of other reports. Citigroup boosted their target price on Unity Software from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Barclays boosted their target price on Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. HSBC lowered Unity Software from a “buy” rating to a “hold” rating and boosted their target price for the stock from $37.50 to $40.80 in a research report on Tuesday, September 30th. Jefferies Financial Group boosted their target price on Unity Software from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, Zacks Research lowered Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.81.

Insider Buying and Selling at Unity Software

In other news, Director David Helgason sold 1,350,000 shares of Unity Software stock in a transaction on Monday, September 8th. The stock was sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the transaction, the director owned 6,139,173 shares in the company, valued at approximately $272,763,456.39. The trade was a 18.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $39.83, for a total value of $9,957,500.00. Following the transaction, the director owned 1,548,146 shares in the company, valued at $61,662,655.18. This represents a 13.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,236,951 shares of company stock valued at $95,081,659 in the last ninety days. Company insiders own 3.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Unity Software by 10.8% in the third quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock valued at $119,000 after purchasing an additional 288 shares in the last quarter. Allworth Financial LP grew its stake in Unity Software by 28.4% in the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after purchasing an additional 412 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Unity Software by 4.4% in the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock valued at $261,000 after purchasing an additional 454 shares in the last quarter. Captrust Financial Advisors grew its stake in Unity Software by 2.1% in the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after purchasing an additional 462 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in shares of Unity Software by 11.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 5,116 shares of the company’s stock worth $124,000 after buying an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 2.8%

The business has a 50-day simple moving average of $40.19 and a two-hundred day simple moving average of $30.42. The company has a market cap of $15.32 billion, a price-to-earnings ratio of -34.20 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.

Unity Software (NYSE:U) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The company had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the firm earned ($0.32) EPS. Unity Software’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, equities analysts forecast 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.