Unity Software Inc. (NYSE:U) Receives $26.46 Consensus Price Target from Brokerages

Shares of Unity Software Inc. (NYSE:U) have received a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.82.

A number of research firms have commented on U. Piper Sandler reaffirmed a “neutral” rating and set a $17.00 target price (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Tuesday, September 3rd. Wedbush dropped their target price on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Benchmark reduced their price target on shares of Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, The Goldman Sachs Group lowered their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th.

Unity Software Trading Up 5.2 %

NYSE U opened at $19.90 on Friday. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of -8.88 and a beta of 2.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software has a 12 month low of $13.90 and a 12 month high of $43.54. The company’s fifty day moving average price is $16.44 and its two-hundred day moving average price is $20.40.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) earnings per share. As a group, research analysts predict that Unity Software will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Felix The sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The disclosure for this sale can be found here. Insiders sold 285,472 shares of company stock valued at $5,775,071 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal London Asset Management Ltd. grew its stake in shares of Unity Software by 0.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 116,167 shares of the company’s stock worth $4,750,000 after purchasing an additional 440 shares during the last quarter. Advisors Asset Management Inc. grew its position in Unity Software by 31.6% in the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock worth $62,000 after buying an additional 562 shares during the last quarter. Bouvel Investment Partners LLC increased its holdings in shares of Unity Software by 2.7% in the first quarter. Bouvel Investment Partners LLC now owns 22,783 shares of the company’s stock valued at $608,000 after buying an additional 597 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Unity Software by 3.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 20,232 shares of the company’s stock valued at $827,000 after acquiring an additional 663 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in shares of Unity Software by 245.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares in the last quarter. 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.