Unity Software (NYSE:U) Stock Rating Upgraded by Wells Fargo & Company

Unity Software (NYSE:U) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday,Finviz reports. The brokerage currently has a $51.00 target price on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 15.56% from the company’s previous close.

U has been the subject of a number of other reports. Hsbc Global Res cut Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Morgan Stanley increased their price objective on shares of Unity Software from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Zacks Research cut shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Macquarie upgraded shares of Unity Software from a “neutral” rating to an “outperform” rating and upped their price target for the company from $33.00 to $50.00 in a research note on Friday, November 7th. Finally, Needham & Company LLC raised their price target on shares of Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and a consensus price target of $40.49.

Unity Software Trading Down 1.1%

NYSE:U opened at $44.13 on Friday. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of -42.03 and a beta of 2.04. Unity Software has a 52 week low of $15.33 and a 52 week high of $46.94. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $38.93 and a 200 day moving average of $34.70.

Unity Software (NYSE:U) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted ($0.31) earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, COO Alexander Blum sold 40,693 shares of Unity Software stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the completion of the transaction, the chief operating officer owned 563,118 shares in the company, valued at approximately $23,301,822.84. This trade represents a 6.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $37.98, for a total value of $9,495,000.00. Following the completion of the sale, the director owned 1,298,146 shares in the company, valued at $49,303,585.08. The trade was a 16.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,506,658 shares of company stock valued at $107,478,975 over the last quarter. Insiders own 3.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL boosted its position in Unity Software by 23.8% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 5,208 shares of the company’s stock worth $209,000 after purchasing an additional 1,000 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Unity Software during the 3rd quarter valued at approximately $33,000. Swiss Life Asset Management Ltd acquired a new position in shares of Unity Software in the 3rd quarter valued at $577,000. Danske Bank A S purchased a new stake in Unity Software during the third quarter worth $80,000. Finally, NewEdge Advisors LLC grew its position in Unity Software by 800.0% during the third quarter. NewEdge Advisors LLC now owns 3,987 shares of the company’s stock valued at $160,000 after buying an additional 3,544 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.