Unity Software (NYSE:U) Coverage Initiated by Analysts at Macquarie

Macquarie assumed coverage on shares of Unity Software (NYSE:U) in a report published on Monday, MarketBeat reports. The firm issued a neutral rating and a $24.00 price target on the stock.

U has been the topic of a number of other research reports. Wells Fargo & Company reduced their price objective on Unity Software from $27.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday. Needham & Company LLC lifted their target price on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays boosted their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, February 21st. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group boosted their price target on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Unity Software presently has an average rating of “Hold” and an average price target of $25.27.

Unity Software Price Performance

Shares of NYSE:U opened at $21.58 on Monday. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The stock has a market capitalization of $8.84 billion, a PE ratio of -12.84 and a beta of 2.27. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $22.93 and a 200-day moving average of $21.86.

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

Insider Activity

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the transaction, the director now directly owns 3,648,146 shares in the company, valued at approximately $91,276,612.92. This trade represents a 6.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Barrysmith sold 1,228 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the sale, the chief financial officer now owns 453,638 shares of the company’s stock, valued at approximately $11,086,912.72. This represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 864,537 shares of company stock worth $20,839,722 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased 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 acquiring an additional 411 shares during the last quarter. Principal Securities Inc. grew its holdings in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after buying an additional 477 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Unity Software by 3.5% during the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock valued at $324,000 after buying an additional 488 shares during the period. Tidal Investments LLC increased its position in shares of Unity Software by 4.9% during the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock valued at $349,000 after buying an additional 723 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Unity Software by 28.7% in the third quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock worth $89,000 after buying an additional 876 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

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.