Unity Software (NYSE:U) Stock Price Up 9.1% – What’s Next?

Unity Software Inc. (NYSE:U) shares traded up 9.1% during trading on Wednesday . The stock traded as high as $31.00 and last traded at $31.17. 2,699,511 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 14,293,364 shares. The stock had previously closed at $28.58.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on U. 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 note on Tuesday, May 5th. Barclays increased their price objective on shares of Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley lifted their target price on shares of Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Bank of America boosted their target price on shares of Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. Finally, Wedbush upped their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Unity Software presently has an average rating of “Moderate Buy” and an average price target of $37.71.

Unity Software Stock Performance

The stock has a market capitalization of $13.34 billion, a PE ratio of -19.49, a price-to-earnings-growth ratio of 3.62 and a beta of 2.06. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $27.40 and a 200-day moving average of $29.20.

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 19,009 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $516,664.62. Following the completion of the sale, the chief operating officer directly owned 730,069 shares of the company’s stock, valued at $19,843,275.42. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.20, for a total value of $25,894.40. Following the transaction, the senior vice president directly owned 309,445 shares in the company, valued at approximately $8,416,904. The trade was a 0.31% decrease in their position. 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. Insiders sold a total of 198,321 shares of company stock valued at $5,390,783 over the last three months. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new position in Unity Software during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in shares of Unity Software during the fourth quarter worth approximately $30,000. Larson Financial Group LLC increased its holdings in shares of Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after acquiring an additional 341 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Unity Software in the 4th quarter valued at $36,000. Finally, IFP Advisors Inc purchased a new stake in Unity Software in the 3rd quarter valued at $33,000. Hedge funds and other 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.