Morgan Stanley Increases Unity Software (NYSE:U) Price Target to $32.00

Unity Software (NYSE:U) had its price target lifted by research analysts at Morgan Stanley from $26.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 13.02% from the stock’s current price.

U has been the subject of a number of other reports. Needham & Company LLC increased their target price on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday. Benchmark raised shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. UBS Group lifted their price target on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Macquarie upped their price objective on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.96.

Unity Software Stock Up 1.1 %

Shares of NYSE:U opened at $28.31 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of -16.85 and a beta of 2.32. The company has a 50 day moving average of $22.53 and a 200-day moving average of $21.13. Unity Software has a one year low of $13.90 and a one year high of $33.43.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. On average, sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mark Barrysmith sold 8,112 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.38, for a total transaction of $197,770.56. Following the transaction, the chief financial officer now owns 454,866 shares of the company’s stock, valued at approximately $11,089,633.08. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the completion of the sale, the director now directly owns 3,481,479 shares in the company, valued at approximately $73,076,244.21. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 762,597 shares of company stock valued at $18,732,374. Insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of U. GAMMA Investing LLC grew its stake 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 in the last quarter. Principal Securities Inc. boosted its holdings in shares of Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares during the period. Farther Finance Advisors LLC grew its stake in Unity Software by 3.5% in the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock worth $324,000 after purchasing an additional 488 shares in the last quarter. Tidal Investments LLC increased its holdings in Unity Software by 4.9% during 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. Finally, Venturi Wealth Management LLC raised its position in Unity Software by 28.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock valued at $89,000 after purchasing an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.