Unity Software (NYSE:U) Given New $33.00 Price Target at Needham & Company LLC

Unity Software (NYSE:U) had its price target upped by Needham & Company LLC from $26.00 to $33.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

U has been the topic of several other reports. Morgan Stanley increased their price target on shares of Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Jefferies Financial Group increased their target price on shares of Unity Software from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wedbush reissued an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a research report on Thursday, February 13th. UBS Group raised their price objective on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Barclays boosted their target price on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Unity Software has a consensus rating of “Hold” and a consensus price target of $25.96.

Unity Software Stock Up 1.1 %

Shares of NYSE U opened at $28.31 on Friday. The stock has a market cap of $11.41 billion, a PE ratio of -16.85 and a beta of 2.32. 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 has a 12-month low of $13.90 and a 12-month high of $33.43. The company has a 50-day moving average of $22.53 and a 200 day moving average of $21.18.

Unity Software (NYSE:U) last announced 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 business had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. As a group, sell-side analysts predict that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Tomer Bar-Zeev sold 83,333 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $25.44, for a total value of $2,119,991.52. Following the completion of the sale, the director now owns 3,398,146 shares of the company’s stock, valued at approximately $86,448,834.24. This represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mark Barrysmith sold 1,395 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now 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 742,766 shares of company stock worth $18,248,777 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Unity Software in the 4th quarter worth about $269,320,000. Slate Path Capital LP acquired a new position in Unity Software during the 4th quarter valued at about $62,387,000. Capital International Investors increased its holdings 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. raised its stake in shares of Unity Software by 3,843.9% in the fourth 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 purchasing an additional 1,521,165 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

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.