Unity Software (NYSE:U) Price Target Raised to $27.00 at Wells Fargo & Company

Unity Software (NYSE:U) had its price objective raised by equities research analysts at Wells Fargo & Company from $20.00 to $27.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 4.64% from the stock’s current price.

Several other research firms have also issued reports on U. Macquarie boosted their price target on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price objective on Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Friday. Needham & Company LLC raised their target price on shares of Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday. Barclays lifted their price target on shares of Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Morgan Stanley increased their price objective on shares of Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.96.

Unity Software Price Performance

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

Unity Software (NYSE:U) last released its quarterly 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. The firm had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. On average, analysts expect that Unity Software will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total value of $6,255,000.00. Following the sale, the director now directly owns 3,648,146 shares in the company, valued at $91,276,612.92. The trade was a 6.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the transaction, the chief accounting officer now directly owns 450,881 shares of the company’s stock, valued at approximately $9,775,100.08. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 762,597 shares of company stock valued at $18,732,374 in the last quarter. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Several large investors have recently modified their holdings of U. Ariose Capital Management Ltd bought a new stake in Unity Software in the fourth quarter worth about $2,299,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after buying an additional 944,709 shares during the period. CIBC Asset Management Inc boosted its holdings in Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after acquiring an additional 330,088 shares during the period. LMR Partners LLP purchased a new position in Unity Software during the 3rd quarter valued at $611,000. Finally, Edgestream Partners L.P. boosted its stake in shares of Unity Software by 637.9% during the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock valued at $2,328,000 after purchasing an additional 88,955 shares during the period. 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.