Unity Software Inc. (NYSE:U) Receives Average Rating of “Moderate Buy” from Analysts

Unity Software Inc. (NYSE:U) has been assigned an average recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $43.0444.

U has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $42.00 to $51.00 in a research note on Friday, December 5th. Hsbc Global Res downgraded shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Needham & Company LLC boosted their price target on shares of Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Morgan Stanley raised their price objective on Unity Software from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, BTIG Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Thursday, December 11th.

Unity Software Stock Performance

NYSE:U opened at $44.06 on Friday. The firm has a market capitalization of $18.85 billion, a PE ratio of -41.96 and a beta of 2.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.78. The business’s fifty day moving average price is $42.32 and its 200 day moving average price is $37.79. Unity Software has a 12 month low of $15.33 and a 12 month high of $52.15.

Unity Software (NYSE:U) last released its quarterly earnings data 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 business had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. During the same quarter in the prior year, the business posted ($0.31) EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Helgason sold 8,347 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $49.16, for a total value of $410,338.52. Following the completion of the sale, the director directly owned 7,635 shares of the company’s stock, valued at approximately $375,336.60. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jarrod Yahes sold 27,742 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $42.79, for a total transaction of $1,187,080.18. Following the transaction, the chief financial officer owned 546,129 shares in the company, valued at approximately $23,368,859.91. This trade represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,651,471 shares of company stock valued at $75,307,029 in the last 90 days. Company insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Unity Software by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after acquiring an additional 930,293 shares during the last quarter. Slate Path Capital LP increased its holdings in shares of Unity Software by 25.4% in the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock valued at $484,410,000 after purchasing an additional 4,048,484 shares during the period. Wellington Management Group LLP raised its stake in shares of Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the last quarter. Atreides Management LP lifted its holdings in shares of Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after purchasing an additional 5,607,572 shares during the period. Finally, Norges Bank purchased a new position in Unity Software in the 2nd quarter valued at $151,221,000. Hedge funds and other institutional investors 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.