Unity Software (NYSE:U) Stock Rating Upgraded by Wall Street Zen

Unity Software (NYSE:U) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, January 21st. The Goldman Sachs Group reduced their price target on shares of Unity Software from $47.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Freedom Capital upgraded Unity Software to a “strong-buy” rating in a research note on Thursday, January 15th. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Unity Software in a report on Friday. Finally, Citigroup cut their price objective on Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Unity Software Stock Performance

Unity Software stock opened at $19.42 on Friday. The stock has a market cap of $8.41 billion, a P/E ratio of -20.23, a price-to-earnings-growth ratio of 10.42 and a beta of 2.14. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $29.51 and a 200-day moving average of $37.33. Unity Software has a 52 week low of $15.33 and a 52 week high of $52.15.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $503.09 million during the quarter, compared to analyst estimates of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. On average, analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 10,578 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the sale, the chief accounting officer owned 383,901 shares of the company’s stock, valued at $6,937,091.07. This represents a 2.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Alexander Blum sold 10,164 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total transaction of $183,663.48. Following the sale, the chief operating officer owned 550,966 shares in the company, valued at approximately $9,955,955.62. This trade represents a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,684 shares of company stock worth $773,350. 3.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC lifted its holdings in shares of Unity Software by 63.2% in the 4th quarter. Corient Private Wealth LLC now owns 17,681 shares of the company’s stock worth $781,000 after purchasing an additional 6,845 shares during the last quarter. Bank of Hawaii acquired a new position in Unity Software during the 4th quarter valued at approximately $872,000. T. Rowe Price Investment Management Inc. grew its stake in Unity Software by 41.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,622,445 shares of the company’s stock worth $204,174,000 after buying an additional 1,355,847 shares during the last quarter. Compound Planning Inc. grew its stake in Unity Software by 35.6% during the 4th quarter. Compound Planning Inc. now owns 12,764 shares of the company’s stock worth $564,000 after buying an additional 3,354 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. acquired a new stake in Unity Software in the fourth quarter worth $2,208,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Unity Software

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.