Unity Software (NYSE:U) Given Buy Rating at BTIG Research

BTIG Research restated their buy rating on shares of Unity Software (NYSE:U) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $39.00 price target on the stock.

Other research analysts have also issued reports about the stock. Barclays lowered their target price on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. UBS Group lowered their target price on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Wall Street Zen lowered shares of Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Jefferies Financial Group increased their price target on shares of Unity Software from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 5th. Finally, Citigroup lowered their price target on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.41.

Unity Software Trading Up 2.6%

Shares of U opened at $26.68 on Monday. 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 firm’s 50-day moving average is $21.03 and its two-hundred day moving average is $32.97. Unity Software has a twelve month low of $16.78 and a twelve month high of $52.15. The firm has a market capitalization of $11.64 billion, a P/E ratio of -27.80, a PEG ratio of 9.58 and a beta of 2.00.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The company had revenue of $503.09 million for the quarter, compared to analyst estimates of $490.64 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts predict that Unity Software will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mark Barrysmith sold 10,578 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the sale, the chief accounting officer owned 383,901 shares in the company, valued at approximately $6,937,091.07. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jarrod Yahes sold 6,205 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $21.03, for a total transaction of $130,491.15. Following the sale, the chief financial officer owned 728,381 shares in the company, valued at approximately $15,317,852.43. This trade represents a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 41,684 shares of company stock worth $773,350. 0.77% of the stock is owned by insiders.

Institutional Trading of Unity Software

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Unity Software by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after acquiring an additional 996,685 shares during the last quarter. Wellington Management Group LLP raised its stake in Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the period. Geode Capital Management LLC raised its stake in Unity Software by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after purchasing an additional 328,595 shares during the period. Norges Bank purchased a new position in Unity Software during the fourth quarter worth approximately $230,285,000. Finally, Ameriprise Financial Inc. raised its stake in Unity Software by 37.8% during the second quarter. Ameriprise Financial Inc. now owns 4,628,328 shares of the company’s stock worth $112,006,000 after purchasing an additional 1,270,798 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.