Unity Software (NYSE:U) Stock Rating Upgraded by Wall Street Zen

Unity Software (NYSE:U) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other research analysts have also commented on the stock. Zacks Research lowered shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Needham & Company LLC upped their price objective on shares of Unity Software from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. The Goldman Sachs Group initiated coverage on Unity Software in a report on Wednesday, October 15th. They issued a “neutral” rating and a $38.00 price target on the stock. Hsbc Global Res lowered shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Finally, BTIG Research upgraded Unity Software from a “sell” rating to a “neutral” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.05.

Unity Software Trading Up 3.7%

Shares of U stock opened at $45.79 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70. Unity Software has a 12-month low of $15.33 and a 12-month high of $46.94. The stock’s 50-day moving average price is $38.99 and its 200-day moving average price is $35.06. The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of -43.61 and a beta of 2.04.

Unity Software (NYSE:U) last posted its earnings results 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 firm had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. During the same period in the prior year, the company earned ($0.31) EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 1,298,146 shares of the company’s stock, valued at approximately $49,303,585.08. This trade represents a 16.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jarrod Yahes sold 34,719 shares of Unity Software stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total transaction of $1,436,672.22. Following the completion of the sale, the chief financial officer directly owned 573,871 shares in the company, valued at $23,746,781.98. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,156,658 shares of company stock worth $47,498,475 in the last ninety days. 3.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of the business. CX Institutional acquired a new position in Unity Software during the second quarter worth $25,000. Root Financial Partners LLC purchased a new stake in shares of Unity Software in the 3rd quarter valued at approximately $27,000. Banque Transatlantique SA acquired a new position in Unity Software during the first quarter worth $28,000. Atlantic Union Bankshares Corp purchased a new position in Unity Software during the 2nd quarter valued at about $28,000. Finally, Larson Financial Group LLC grew its stake in Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares in the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.