UBS Group Raises Unity Software (NYSE:U) Price Target to $23.00

Unity Software (NYSE:U) had its target price lifted by analysts at UBS Group from $21.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential downside of 0.45% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Macquarie lifted their price target on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Friday, November 8th. Needham & Company LLC lifted their price target on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley lifted their price target on Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. Finally, Jefferies Financial Group boosted their target price on Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Unity Software has an average rating of “Hold” and a consensus price target of $22.81.

Unity Software Trading Up 0.2 %

Shares of NYSE U opened at $23.11 on Wednesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $23.21 and a two-hundred day simple moving average of $20.21. The firm has a market cap of $9.31 billion, a PE ratio of -11.33 and a beta of 2.32. Unity Software has a twelve month low of $13.90 and a twelve month high of $35.56.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. The business had revenue of $446.52 million for the quarter, compared to the consensus estimate of $428.01 million. During the same period last year, the business posted ($0.12) EPS. Analysts expect that Unity Software will post -1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares of the company’s stock, valued at $9,909,367.16. The trade was a 0.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $17.52, for a total value of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 764,487 shares of company stock worth $17,521,180. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Unity Software by 33.6% in the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after purchasing an additional 411 shares during the period. Farther Finance Advisors LLC raised its holdings in Unity Software by 4.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock worth $315,000 after purchasing an additional 538 shares during the period. Tidal Investments LLC raised its holdings in Unity Software by 4.9% in the 3rd quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock worth $349,000 after purchasing an additional 723 shares during the period. Venturi Wealth Management LLC raised its holdings in Unity Software by 28.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock worth $89,000 after purchasing an additional 876 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Unity Software by 8.2% in the 2nd quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock worth $216,000 after purchasing an additional 1,010 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.