Wells Fargo & Company Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its target price raised by equities research analysts at Wells Fargo & Company from $20.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 4.64% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC boosted their price target on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their target price on Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group upped their price target on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Finally, HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $25.96.

Unity Software Stock Up 1.1 %

Shares of U stock opened at $28.31 on Friday. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of -16.85 and a beta of 2.32. Unity Software has a 12-month low of $13.90 and a 12-month high of $33.43. The firm has a fifty day moving average of $22.53 and a 200-day moving average of $21.13. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. The business had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. As a group, equities research analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, SVP Felix The sold 11,719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.39, for a total value of $285,826.41. Following the completion of the sale, the senior vice president now owns 411,960 shares of the company’s stock, valued at $10,047,704.40. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 83,333 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total value of $2,119,991.52. Following the transaction, the director now directly owns 3,398,146 shares of the company’s stock, valued at $86,448,834.24. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 762,597 shares of company stock valued at $18,732,374. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning raised its holdings in Unity Software by 13.7% in the third quarter. Creative Planning now owns 153,742 shares of the company’s stock worth $3,478,000 after purchasing an additional 18,547 shares in the last quarter. Blue Trust Inc. grew its position in shares of Unity Software by 54.0% in the 3rd quarter. Blue Trust Inc. now owns 4,810 shares of the company’s stock worth $109,000 after buying an additional 1,687 shares during the period. Signaturefd LLC increased its stake in shares of Unity Software by 106.1% in the 3rd quarter. Signaturefd LLC now owns 4,081 shares of the company’s stock worth $92,000 after acquiring an additional 2,101 shares in the last quarter. Greenleaf Trust purchased a new position in Unity Software during the 3rd quarter valued at about $310,000. Finally, International Assets Investment Management LLC boosted its stake in Unity Software by 1,787.9% during the third quarter. International Assets Investment Management LLC now owns 14,839 shares of the company’s stock worth $336,000 after acquiring an additional 14,053 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.