Unity Software (NYSE:U) Raised to Strong-Buy at Freedom Capital

Unity Software (NYSE:U) was upgraded by stock analysts at Freedom Capital to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on U. Citigroup raised their target price on shares of Unity Software from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, October 8th. HSBC downgraded Unity Software from a “buy” rating to a “hold” rating and upped their target price for the stock from $37.50 to $40.80 in a research note on Tuesday, September 30th. Finally, Barclays boosted their price target on Unity Software from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Unity Software Trading Down 6.9%

Shares of NYSE:U opened at $40.96 on Thursday. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software has a 52-week low of $15.33 and a 52-week high of $52.15. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of -39.01, a PEG ratio of 46.10 and a beta of 2.04. The business has a 50-day moving average price of $43.73 and a 200-day moving average price of $39.38.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Unity Software had a negative return on equity of 9.45% and a negative net margin of 24.15%.The firm had revenue of $470.62 million for the quarter, compared to analyst estimates of $452.87 million. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. Unity Software’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 50,000 shares of Unity Software stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $47.00, for a total value of $2,350,000.00. Following the transaction, the director directly owned 873,146 shares in the company, valued at approximately $41,037,862. This trade represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jarrod Yahes sold 27,742 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the completion of the sale, the chief financial officer owned 546,129 shares of the company’s stock, valued at approximately $23,368,859.91. The trade was a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,647,935 shares of company stock valued at $75,174,498. Corporate insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of U. GAMMA Investing LLC raised its holdings in shares of Unity Software by 10.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock worth $119,000 after purchasing an additional 288 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Unity Software by 12.9% in the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after buying an additional 308 shares during the period. Xponance Inc. lifted its position in Unity Software by 1.8% during the third quarter. Xponance Inc. now owns 18,291 shares of the company’s stock valued at $732,000 after buying an additional 328 shares in the last quarter. Larson Financial Group LLC grew its stake in Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after buying an additional 341 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock valued at $45,000 after acquiring an additional 412 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.