Unity Software Inc. (NYSE:U) Receives $37.77 Average Price Target from Analysts

Unity Software Inc. (NYSE:U) has been given an average recommendation of “Moderate Buy” by the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $37.7667.

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Unity Software from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Needham & Company LLC increased their price objective on shares of Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 8th. Piper Sandler began coverage on shares of Unity Software in a research note on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 price objective on the stock. Zacks Research raised Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Bank of America upped their target price on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, March 27th.

Unity Software Stock Performance

Shares of U opened at $29.02 on Tuesday. The firm has a 50-day moving average price of $28.38 and a 200 day moving average price of $27.91. The firm has a market capitalization of $12.67 billion, a PE ratio of -18.49, a P/E/G ratio of 3.51 and a beta of 2.05. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software has a 52-week low of $16.78 and a 52-week high of $52.15.

Insider Activity at Unity Software

In other news, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $360,053.46. Following the sale, the chief accounting officer owned 370,654 shares of the company’s stock, valued at approximately $10,074,375.72. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the sale, the chief executive officer owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 198,321 shares of company stock worth $5,390,783 in the last quarter. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its position in shares of Unity Software by 12.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 104,100 shares of the company’s stock valued at $2,975,000 after purchasing an additional 11,300 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Unity Software by 105.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,286 shares of the company’s stock worth $65,000 after purchasing an additional 1,172 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Unity Software in the 2nd quarter worth approximately $757,000. GAMMA Investing LLC raised its holdings in shares of Unity Software by 47.5% in the 2nd quarter. GAMMA Investing LLC now owns 5,910 shares of the company’s stock worth $169,000 after purchasing an additional 1,902 shares in the last quarter. Finally, TTRF Capital Ltd acquired a new stake in Unity Software during the second quarter valued at approximately $1,689,000. 73.46% of the stock is 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.