Unity Software (NYSE:U) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Unity Software (NYSE:U) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

U has been the topic of a number of other research reports. HSBC downgraded shares of Unity Software from a “buy” rating to a “hold” rating and increased their price objective for the company from $37.50 to $40.80 in a research report on Tuesday, September 30th. Wedbush increased their price target on Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Piper Sandler raised Unity Software from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $43.00 to $59.00 in a report on Thursday, December 11th. Jefferies Financial Group upped their price objective on Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, Arete Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Unity Software has an average rating of “Moderate Buy” and a consensus price target of $45.27.

Unity Software Trading Down 6.9%

Unity Software stock opened at $40.96 on Thursday. Unity Software has a one year low of $15.33 and a one year high of $52.15. The business’s fifty day moving average is $43.73 and its 200 day moving average is $39.48. The stock has a market capitalization of $17.53 billion, a PE ratio of -39.01, a price-to-earnings-growth ratio of 42.92 and a beta of 2.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $470.62 million during the quarter, compared to analyst estimates of $452.87 million. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.Unity Software’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) EPS. On average, sell-side analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Activity

In other news, Director Tomer Bar-Zeev sold 50,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $47.00, for a total value of $2,350,000.00. Following the transaction, the director directly owned 873,146 shares in the company, valued at $41,037,862. The trade was a 5.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark Barrysmith sold 14,407 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $50.01, for a total value of $720,494.07. Following the completion of the transaction, the chief accounting officer owned 394,479 shares of the company’s stock, valued at $19,727,894.79. The trade was a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,647,935 shares of company stock worth $75,174,498. 3.61% of the stock is currently owned by insiders.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of U. GAMMA Investing LLC grew its position in shares of Unity Software by 10.8% during 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. Newbridge Financial Services Group Inc. boosted its stake in Unity Software by 12.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after buying an additional 308 shares during the last quarter. Xponance Inc. grew its holdings in Unity Software by 1.8% during the 3rd quarter. Xponance Inc. now owns 18,291 shares of the company’s stock valued at $732,000 after buying an additional 328 shares in the last quarter. Larson Financial Group LLC increased its stake in Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after acquiring an additional 412 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.