Unity Software (NYSE:U) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Unity Software (NYSE:U) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other equities analysts have also commented on the company. Morgan Stanley raised their price objective on Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Needham & Company LLC upped their target price on shares of Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wedbush increased their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, UBS Group lifted their price target on shares of Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.77.

Unity Software Trading Up 3.5%

NYSE U opened at $31.76 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software has a twelve month low of $16.78 and a twelve month high of $52.15. The firm has a market capitalization of $13.86 billion, a PE ratio of -20.23, a P/E/G ratio of 3.71 and a beta of 2.05. The stock’s 50 day moving average is $28.21 and its 200 day moving average is $28.11.

Insider Transactions at Unity Software

In other news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the sale, the chief financial officer directly owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $27.37, for a total value of $57,449.63. Following the transaction, the chief operating officer owned 727,970 shares of the company’s stock, valued at $19,924,538.90. The trade was a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Institutional investors and hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its holdings in shares of Unity Software by 12.9% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock worth $108,000 after buying an additional 308 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of Unity Software by 3.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock valued at $656,000 after acquiring an additional 449 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Unity Software by 2.1% in the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock valued at $540,000 after acquiring an additional 462 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in Unity Software by 8.9% in the fourth quarter. Ritholtz Wealth Management now owns 5,732 shares of the company’s stock worth $253,000 after acquiring an additional 468 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

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.