UBS Group Issues Positive Forecast for Unity Software (NYSE:U) Stock Price

Unity Software (NYSE:U) had its price objective boosted by research analysts at UBS Group from $28.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential downside of 4.32% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Barclays increased their price objective on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Unity Software in a report on Friday, July 17th. Wedbush lifted their target price on Unity Software from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Citigroup lowered their target price on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.49.

Unity Software Trading Up 5.5%

U traded up $1.73 on Monday, reaching $33.44. 12,831,029 shares of the company traded hands, compared to its average volume of 13,322,456. Unity Software has a one year low of $16.78 and a one year high of $52.15. The firm has a fifty day simple moving average of $29.19 and a two-hundred day simple moving average of $26.76. The company has a market cap of $14.60 billion, a P/E ratio of -21.30, a price-to-earnings-growth ratio of 3.75 and a beta of 2.05. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insiders Place Their Bets

In related news, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the transaction, the chief accounting officer owned 370,654 shares in the company, valued at $10,074,375.72. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 $19,144,504.80. The trade was a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last three months. 0.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Unity Software by 58.7% during the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the last quarter. Norges Bank purchased a new position in shares of Unity Software in the fourth quarter worth $230,285,000. Renaissance Technologies LLC purchased a new position in shares of Unity Software in the first quarter worth $54,534,000. Duquesne Family Office LLC acquired a new stake in shares of Unity Software during the second quarter worth $42,932,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Unity Software by 52.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after buying an additional 1,465,962 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.