Unity Software (NYSE:U) Upgraded at Benchmark

Benchmark upgraded shares of Unity Software (NYSE:U) from a sell rating to a hold rating in a report released on Thursday morning, MarketBeat Ratings reports.

U has been the subject of a number of other research reports. Macquarie raised their price objective on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, November 8th. Needham & Company LLC raised their price target on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group lifted their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Jefferies Financial Group raised their target price on Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company initiated coverage on Unity Software in a research note on Monday, October 28th. They issued an “equal weight” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.96.

Unity Software Price Performance

Shares of NYSE:U opened at $28.31 on Thursday. The stock’s 50 day moving average is $22.53 and its 200-day moving average is $21.13. Unity Software has a twelve month low of $13.90 and a twelve month high of $33.43. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of -16.85 and a beta of 2.32.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Sell-side analysts forecast that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, Director Tomer Bar-Zeev sold 83,333 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $25.44, for a total transaction of $2,119,991.52. Following the completion of the sale, the director now directly owns 3,398,146 shares of the company’s stock, valued at approximately $86,448,834.24. The trade was a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. This trade represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 762,597 shares of company stock worth $18,732,374 in the last quarter. 6.30% of the stock is owned by corporate insiders.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently made changes to their positions in U. Norges Bank purchased a new position in shares of Unity Software in the 4th quarter valued at approximately $269,320,000. Slate Path Capital LP acquired a new position in Unity Software during the 4th quarter valued at approximately $62,387,000. Capital International Investors increased its stake in Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Ameriprise Financial Inc. increased its stake 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 valued at $39,771,000 after purchasing an additional 1,725,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock valued at $43,505,000 after acquiring an additional 1,521,165 shares during the period. Hedge funds and other 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.