Unity Software (NYSE:U) Shares Gap Up on Analyst Upgrade

Unity Software Inc. (NYSE:U)’s stock price gapped up before the market opened on Friday after Stifel Nicolaus raised their price target on the stock from $20.00 to $25.00. The stock had previously closed at $18.91, but opened at $19.59. Stifel Nicolaus currently has a buy rating on the stock. Unity Software shares last traded at $20.09, with a volume of 7,993,740 shares traded.

Several other analysts have also weighed in on the company. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a report on Tuesday, September 3rd. Needham & Company LLC decreased their price objective on Unity Software from $31.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark decreased their price objective on Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group decreased their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Wedbush decreased their price target on Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.82.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares in the company, valued at approximately $6,851,604.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 5,472 shares of company stock worth $90,871. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors grew its stake in shares of Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after purchasing an additional 6,004,655 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Unity Software by 26.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock worth $1,445,000 after purchasing an additional 7,484 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Unity Software during the first quarter worth $3,878,000. Seldon Capital LP acquired a new stake in shares of Unity Software during the fourth quarter worth $7,576,000. Finally, Vanguard Group Inc. grew its stake in Unity Software by 0.8% in the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after acquiring an additional 208,566 shares during the period. Institutional investors own 73.46% of the company’s stock.

Unity Software Trading Up 6.5 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of -9.18 and a beta of 2.25. The business has a 50 day simple moving average of $16.36 and a 200-day simple moving average of $20.49.

Unity Software (NYSE:U) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. The company’s revenue was down 15.8% on a year-over-year basis. As a group, equities analysts expect that Unity Software Inc. will post -1.86 earnings per share for the current year.

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.