Unity Software (NYSE:U) Given New $47.00 Price Target at The Goldman Sachs Group

Unity Software (NYSE:U) had its price target upped by investment analysts at The Goldman Sachs Group from $42.00 to $47.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 2.60% from the stock’s previous close.

Several other equities research analysts have also weighed in on U. Jefferies Financial Group increased their price objective on shares of Unity Software from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, October 8th. Wedbush raised their price target on Unity Software from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Arete Research upgraded Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, December 1st. Finally, Hsbc Global Res lowered Unity Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.27.

Unity Software Stock Performance

Shares of NYSE U traded down $1.48 during trading on Tuesday, reaching $45.81. The stock had a trading volume of 5,758,111 shares, compared to its average volume of 6,331,665. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.78 and a current ratio of 2.78. The stock has a market cap of $19.60 billion, a PE ratio of -43.60, a P/E/G ratio of 46.81 and a beta of 2.04. Unity Software has a one year low of $15.33 and a one year high of $52.15. The firm’s 50 day moving average price is $43.44 and its two-hundred day moving average price is $39.06.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, research analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Alexander Blum sold 1,988 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $42.47, for a total transaction of $84,430.36. Following the completion of the sale, the chief operating officer directly owned 561,130 shares of the company’s stock, valued at $23,831,191.10. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark Barrysmith sold 14,407 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $50.01, for a total transaction of $720,494.07. Following the sale, the chief accounting officer directly owned 394,479 shares of the company’s stock, valued at $19,727,894.79. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,651,471 shares of company stock worth $75,307,029. Company insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Large investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after purchasing an additional 45,481 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Unity Software during the first quarter worth approximately $260,000. Wedmont Private Capital acquired a new position in shares of Unity Software during the second quarter worth approximately $229,000. CX Institutional bought a new stake in shares of Unity Software in the second quarter valued at approximately $25,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Unity Software by 4.4% in the second quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock worth $261,000 after acquiring an additional 454 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

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.