UBS Group Raises Unity Software (NYSE:U) Price Target to $23.00

Unity Software (NYSE:U) had its price objective raised by analysts at UBS Group from $21.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 0.82% from the company’s previous close.

Several other equities research analysts have also issued reports on U. Barclays raised their price objective on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Benchmark raised their price target on Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Macquarie raised their price target on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. Wells Fargo & Company initiated coverage on Unity Software in a report on Monday, October 28th. They set an “equal weight” rating and a $20.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Unity Software currently has an average rating of “Hold” and a consensus target price of $22.81.

Unity Software Stock Performance

Unity Software stock traded up $0.63 during mid-day trading on Wednesday, reaching $22.81. 676,461 shares of the stock traded hands, compared to its average volume of 10,197,237. The stock has a market capitalization of $9.19 billion, a PE ratio of -11.19 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software has a 12-month low of $13.90 and a 12-month high of $35.56. The business’s 50-day moving average is $23.13 and its 200-day moving average is $20.19.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. The business had revenue of $446.52 million during the quarter, compared to analysts’ expectations of $428.01 million. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. During the same quarter in the prior year, the business posted ($0.12) earnings per share. As a group, sell-side analysts predict that Unity Software will post -1.72 EPS for the current fiscal year.

Insider Activity

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the transaction, the director now directly owns 4,248,146 shares in the company, valued at $74,427,517.92. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shlomo Dovrat sold 3,750 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.99, for a total value of $67,462.50. Following the sale, the director now directly owns 2,394,935 shares in the company, valued at $43,084,880.65. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 764,487 shares of company stock worth $17,521,180 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in U. GAMMA Investing LLC grew its holdings in Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after buying an additional 949 shares during the period. Planning Capital Management Corp purchased a new stake in Unity Software in the third quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. grew its holdings in Unity Software by 163.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares during the period. Brooklyn Investment Group purchased a new stake in Unity Software in the third quarter valued at approximately $43,000. Finally, Versant Capital Management Inc grew its holdings in Unity Software by 186.9% in the fourth quarter. Versant Capital Management Inc now owns 2,812 shares of the company’s stock valued at $63,000 after purchasing an additional 1,832 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.