Unity Software Inc. (NYSE:U) Receives $37.77 Average Price Target from Analysts

Unity Software Inc. (NYSE:U) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.7667.

A number of analysts have weighed in on U shares. Raymond James Financial began coverage on shares of Unity Software in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Zacks Research upgraded shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Wedbush increased their price target on Unity Software from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Bank of America raised their price objective on Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, March 27th. Finally, Wall Street Zen lowered Unity Software from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th.

Insider Transactions at Unity Software

In other news, CFO Jarrod Yahes sold 24,021 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $652,890.78. Following the sale, the chief financial officer directly owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the sale, the chief executive officer owned 1,557,514 shares in the company, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

A number of institutional investors have recently added to or reduced their stakes in U. Cinctive Capital Management LP acquired a new position in shares of Unity Software in the 3rd quarter valued at about $4,727,000. Massachusetts Financial Services Co. MA grew its stake in Unity Software by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company’s stock worth $128,350,000 after purchasing an additional 252,648 shares during the period. FengHe Fund Management Pte. Ltd. grew its stake in Unity Software by 287.0% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after purchasing an additional 1,284,400 shares during the period. KBC Group NV increased its holdings in Unity Software by 511.9% in the fourth quarter. KBC Group NV now owns 51,960 shares of the company’s stock worth $2,295,000 after purchasing an additional 43,468 shares in the last quarter. Finally, Algert Global LLC increased its holdings in Unity Software by 55.3% in the third quarter. Algert Global LLC now owns 306,517 shares of the company’s stock worth $12,273,000 after purchasing an additional 109,151 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Price Performance

U stock opened at $29.85 on Tuesday. The company has a 50 day simple moving average of $28.44 and a 200 day simple moving average of $27.68. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of -19.01, a P/E/G ratio of 3.51 and a beta of 2.05. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95.

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.