Brokerages Set Unity Software Inc. (NYSE:U) Price Target at $37.71

Shares of Unity Software Inc. (NYSE:U) have received a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $37.7111.

Several equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Needham & Company LLC boosted their price target on shares of Unity Software from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 8th. BTIG Research upped their price target on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, May 7th. UBS Group increased their price objective on Unity Software from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, Barclays raised their price objective on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th.

Unity Software Trading Down 1.6%

U stock opened at $26.70 on Friday. The firm’s 50-day moving average is $27.23 and its 200 day moving average is $29.64. The company has a market capitalization of $11.66 billion, a PE ratio of -17.01, a P/E/G ratio of 3.47 and a beta of 2.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15.

Insiders Place Their Bets

In other news, COO Alexander Blum sold 2,099 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total value of $57,449.63. Following the completion of the sale, the chief operating officer directly owned 727,970 shares in the company, valued at approximately $19,924,538.90. The trade was a 0.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $360,053.46. Following the completion of the sale, the chief accounting officer owned 370,654 shares of the company’s stock, valued at $10,074,375.72. This trade represents a 3.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 198,321 shares of company stock worth $5,390,783. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. REAP Financial Group LLC bought a new position in shares of Unity Software during the 4th quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in shares of 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 purchasing an additional 341 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Unity Software during the fourth quarter worth approximately $30,000. IFP Advisors Inc bought a new position in shares of Unity Software during the third quarter worth approximately $33,000. Finally, International Assets Investment Management LLC bought a new position in shares of Unity Software during the fourth quarter worth approximately $36,000. 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.