Unity Software (NYSE:U) Given New $53.00 Price Target at Wells Fargo & Company

Unity Software (NYSE:U) had its target price lifted by Wells Fargo & Company from $48.00 to $53.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

U has been the subject of a number of other research reports. Benchmark raised Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, August 7th. Oppenheimer reiterated an “outperform” rating on shares of Unity Software in a research report on Thursday. Citigroup lifted their target price on Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. BTIG Research boosted their price target on Unity Software from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citizens Jmp upped their price target on Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Unity Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.91.

Unity Software Trading Down 0.4%

Shares of Unity Software stock opened at $46.69 on Monday. The company has a market capitalization of $20.55 billion, a P/E ratio of -34.33, a P/E/G ratio of 2.05 and a beta of 2.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.03 and a current ratio of 2.03. The company has a fifty day moving average of $43.23 and a 200 day moving average of $32.82. Unity Software has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analyst estimates of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. Unity Software’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. On average, sell-side analysts anticipate that Unity Software will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, COO Alexander Blum sold 43,556 shares of Unity Software stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total value of $1,895,121.56. Following the sale, the chief operating officer owned 661,855 shares of the company’s stock, valued at $28,797,311.05. The trade was a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Bromberg sold 16,383 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the completion of the sale, the chief executive officer directly owned 1,541,131 shares in the company, valued at approximately $69,828,645.61. The trade was a 1.05% 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 109,547 shares of company stock valued at $4,884,202 in the last ninety days. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Atreides Management LP purchased a new stake in Unity Software during the second quarter valued at $292,826,000. Resolute Advisors LLC grew its stake in shares of Unity Software by 473.3% in the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock worth $136,219,000 after buying an additional 3,934,840 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Unity Software by 52.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after buying an additional 1,465,962 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Unity Software in the 1st quarter worth $54,534,000. Finally, Amundi increased its holdings in shares of Unity Software by 4.7% in the 2nd quarter. Amundi now owns 2,334,695 shares of the company’s stock worth $66,726,000 after buying an additional 105,268 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.