Unity Software (NYSE:U) Upgraded to Strong-Buy at Wedbush

Wedbush upgraded shares of Unity Software (NYSE:U) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on U. UBS Group dropped their price target on Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Citizens Jmp upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Barclays cut their price target on shares of Unity Software from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Bank of America assumed coverage on shares of Unity Software in a research report on Thursday, June 26th. They set an “underperform” rating and a $15.00 price objective on the stock. Finally, Morgan Stanley cut their target price on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.47.

Unity Software Stock Performance

Unity Software stock opened at $24.28 on Tuesday. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $10.09 billion, a PE ratio of -21.68 and a beta of 2.29. The firm’s 50 day simple moving average is $23.06 and its 200 day simple moving average is $22.30.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. During the same period in the previous year, the business earned $0.28 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In related news, Director James M. Whitehurst sold 72,955 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $1,549,564.20. Following the transaction, the director owned 240,311 shares in the company, valued at $5,104,205.64. The trade was a 23.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew S. Bromberg sold 133,072 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the completion of the sale, the chief executive officer owned 1,222,812 shares of the company’s stock, valued at $25,972,526.88. This trade represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,127,944 shares of company stock worth $27,166,375 over the last three months. 3.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its stake in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $25,000 after purchasing an additional 1,212 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Unity Software in the 4th quarter worth approximately $28,000. Banque Transatlantique SA bought a new position in Unity Software during the 1st quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Unity Software during the 4th quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. raised its stake in Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company’s stock valued at $40,000 after buying an additional 1,068 shares during the last quarter. 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.