Unity Software (NYSE:U) Shares Gap Up to $28.74

Posted by AM Reporter Staff on Mar 19th, 2023

Unity Software Inc. (NYSE:U – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $28.74, but opened at $29.73. Unity Software shares last traded at $28.62, with a volume of 1,288,087 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BTIG Research lowered shares of Unity Software from a “buy” rating to a “neutral” rating in a report on Thursday, December 8th. DA Davidson increased their price objective on shares of Unity Software from $35.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Credit Suisse Group cut their price objective on shares of Unity Software from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 23rd. Oppenheimer lowered shares of Unity Software from an “outperform” rating to a “market perform” rating in a report on Thursday, February 23rd. Finally, Needham & Company LLC increased their target price on shares of Unity Software from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.79.

Unity Software Price Performance

The company’s 50-day moving average price is $33.31 and its 200-day moving average price is $32.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $8.52 billion, a P/E ratio of -9.60 and a beta of 2.17.

Insider Transactions at Unity Software

In related news, CMO Carol W. Carpenter sold 797 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $32.03, for a total value of $25,527.91. Following the completion of the transaction, the chief marketing officer now owns 432,976 shares of the company’s stock, valued at $13,868,221.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CMO Carol W. Carpenter sold 32,238 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $30.27, for a total value of $975,844.26. Following the completion of the transaction, the chief marketing officer now owns 400,738 shares of the company’s stock, valued at $12,130,339.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Carol W. Carpenter sold 797 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $32.03, for a total transaction of $25,527.91. Following the completion of the transaction, the chief marketing officer now directly owns 432,976 shares of the company’s stock, valued at approximately $13,868,221.28. The disclosure for this sale can be found here. Insiders sold 43,625 shares of company stock valued at $1,322,019 over the last quarter. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Romano Brothers AND Company bought a new position in shares of Unity Software in the 4th quarter valued at about $25,000. Ellevest Inc. grew its position in shares of Unity Software by 133.2% in the 4th quarter. Ellevest Inc. now owns 1,005 shares of the company’s stock valued at $29,000 after acquiring an additional 574 shares during the period. Compagnie Lombard Odier SCmA grew its position in shares of Unity Software by 2,000.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 1,050 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the period. Ronald Blue Trust Inc. grew its position in shares of Unity Software by 85.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 985 shares of the company’s stock valued at $36,000 after acquiring an additional 453 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Unity Software in the 4th quarter valued at about $37,000. Institutional investors own 82.50% of the company’s stock.

About Unity Software

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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.