Barclays Issues Positive Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its target price hoisted by Barclays from $18.00 to $26.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

U has been the subject of a number of other research reports. UBS Group increased their price target on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a report on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Friday. Finally, Macquarie boosted their target price on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.96.

Unity Software Price Performance

Shares of U opened at $28.31 on Friday. The firm has a market capitalization of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32. The stock’s 50 day moving average is $22.53 and its two-hundred day moving average is $21.18. Unity Software has a twelve month low of $13.90 and a twelve month high of $33.43. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating 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%. Research analysts anticipate that Unity Software will post -1.25 earnings per share for the current year.

Insider Activity at Unity Software

In other news, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $20.99, for a total value of $3,498,340.33. Following the completion of the sale, the director now owns 3,481,479 shares of the company’s stock, valued at $73,076,244.21. The trade was a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares of the company’s stock, valued at $9,909,367.16. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 742,766 shares of company stock valued at $18,248,777. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Unity Software

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Unity Software during the fourth quarter valued at about $269,320,000. Slate Path Capital LP purchased a new stake in shares of Unity Software during the 4th quarter worth about $62,387,000. Capital International Investors increased its position in Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Ameriprise Financial Inc. increased its position in Unity Software by 3,843.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock worth $39,771,000 after purchasing an additional 1,725,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Unity Software by 366.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock valued at $43,505,000 after buying an additional 1,521,165 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

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.