Unity Software’s (U) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Unity Software (NYSE:U) in a research note released on Thursday, Benzinga reports. The firm currently has a $33.50 price objective on the stock.

Several other equities analysts have also recently issued reports on U. Piper Sandler upgraded Unity Software from an underweight rating to a neutral rating and decreased their price target for the company from $35.00 to $30.00 in a report on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on Unity Software from $29.00 to $32.00 and gave the company a neutral rating in a research note on Tuesday, January 9th. Barclays decreased their price objective on Unity Software from $30.00 to $28.00 and set an equal weight rating for the company in a report on Tuesday, February 27th. Stifel Nicolaus boosted their target price on Unity Software from $32.00 to $35.00 and gave the company a buy rating in a research note on Friday, March 1st. Finally, William Blair reaffirmed an outperform rating on shares of Unity Software in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $37.03.

Unity Software Trading Up 2.4 %

Shares of NYSE U opened at $24.74 on Thursday. Unity Software has a 1-year low of $22.20 and a 1-year high of $50.08. The company has a 50-day moving average of $26.08 and a two-hundred day moving average of $30.25. The company has a market cap of $9.55 billion, a PE ratio of -11.45 and a beta of 2.40. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.85.

Unity Software (NYSE:U) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to the consensus estimate of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.50) EPS. As a group, equities analysts expect that Unity Software will post -0.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, CMO Carol W. Carpenter sold 6,417 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $32.57, for a total transaction of $209,001.69. Following the completion of the sale, the chief marketing officer now owns 448,617 shares of the company’s stock, valued at approximately $14,611,455.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Unity Software news, CMO Carol W. Carpenter sold 6,417 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.57, for a total value of $209,001.69. Following the transaction, the chief marketing officer now directly owns 448,617 shares of the company’s stock, valued at approximately $14,611,455.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $6,647,500.00. Following the sale, the director now owns 4,498,146 shares of the company’s stock, valued at $119,605,702.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 338,917 shares of company stock valued at $9,460,820. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in U. Commonwealth Equity Services LLC increased its position in Unity Software by 4.2% during the third quarter. Commonwealth Equity Services LLC now owns 98,440 shares of the company’s stock worth $3,090,000 after acquiring an additional 3,966 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Unity Software by 11.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 66,690 shares of the company’s stock worth $2,093,000 after purchasing an additional 7,000 shares in the last quarter. Xponance Inc. increased its position in shares of Unity Software by 3.0% in the third quarter. Xponance Inc. now owns 22,808 shares of the company’s stock worth $716,000 after purchasing an additional 667 shares during the period. Raymond James & Associates raised its stake in Unity Software by 30.8% in the third quarter. Raymond James & Associates now owns 118,426 shares of the company’s stock valued at $3,717,000 after purchasing an additional 27,870 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new stake in Unity Software during the third quarter worth about $160,000. Institutional investors own 73.46% of the company’s stock.

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.