Unity Software (NYSE:U) Rating Increased to Neutral at Bank of America

Bank of America upgraded shares of Unity Software (NYSE:U) from an underperform rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have $19.00 price objective on the stock, up from their prior price objective of $18.00.

A number of other research firms have also recently commented on U. Morgan Stanley boosted their price target on Unity Software from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Wedbush decreased their target price on Unity Software from $37.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Barclays dropped their target price on shares of Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Citigroup decreased their price target on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.73.

Unity Software Stock Up 6.1%

U opened at $20.02 on Tuesday. The stock has a market cap of $8.67 billion, a PE ratio of -20.85, a price-to-earnings-growth ratio of 10.12 and a beta of 2.14. The stock’s fifty day simple moving average is $33.45 and its 200 day simple moving average is $38.31. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52. Unity Software has a 1-year low of $15.33 and a 1-year high of $52.15.

Unity Software (NYSE:U) last announced its 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. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The firm had revenue of $503.09 million for the quarter, compared to analyst estimates of $490.64 million. During the same quarter in the prior year, the business posted ($0.30) EPS. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts expect that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, CFO Jarrod Yahes sold 12,196 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $220,381.72. Following the completion of the transaction, the chief financial officer owned 533,933 shares of the company’s stock, valued at $9,648,169.31. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark Barrysmith sold 10,578 shares of the 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 sale, the chief accounting officer directly owned 383,901 shares in the company, valued at $6,937,091.07. This trade represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 933,233 shares of company stock worth $45,387,419. Company insiders own 3.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in U. Wellington Management Group LLP increased its stake in shares of Unity Software by 58.7% in the 3rd 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 in the last quarter. Norges Bank bought a new position in shares of Unity Software in the second quarter worth about $151,221,000. Slate Path Capital LP lifted its position in shares of Unity Software by 25.4% during the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after buying an additional 4,048,484 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Unity Software in the 3rd quarter worth approximately $106,233,000. Finally, Duquesne Family Office LLC purchased a new stake in Unity Software in the 2nd quarter worth approximately $42,932,000. 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.