Unity Software (NYSE:U) Trading Up 7.1% – What’s Next?

Unity Software Inc. (NYSE:U) shares were up 7.1% on Friday . The stock traded as high as $22.72 and last traded at $22.72. Approximately 6,470,996 shares traded hands during trading, a decline of 41% from the average daily volume of 10,911,734 shares. The stock had previously closed at $21.22.

Analyst Ratings Changes

Several brokerages recently weighed in on U. Hsbc Global Res upgraded Unity Software to a “strong-buy” rating in a research report on Friday, February 21st. Stifel Nicolaus reduced their price target on Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. UBS Group reduced their price target on Unity Software from $30.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company lowered their price target on shares of Unity Software from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.21.

Unity Software Price Performance

The stock’s 50-day simple moving average is $20.52 and its two-hundred day simple moving average is $22.05. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -13.55 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. The business had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $415.77 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. Equities research analysts predict that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Mark Barrysmith sold 1,595 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $18.43, for a total value of $29,395.85. Following the completion of the transaction, the chief accounting officer now owns 481,822 shares of the company’s stock, valued at approximately $8,879,979.46. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Alexander Blum sold 1,479 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $25.26, for a total transaction of $37,359.54. Following the completion of the transaction, the chief operating officer now directly owns 495,648 shares of the company’s stock, valued at approximately $12,520,068.48. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 783,645 shares of company stock valued at $18,063,816 over the last 90 days. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in U. Norges Bank acquired a new stake in Unity Software in the fourth quarter valued at approximately $269,320,000. Atreides Management LP raised its holdings in Unity Software by 146.7% in the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock valued at $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Slate Path Capital LP acquired a new stake in Unity Software in the fourth quarter valued at approximately $62,387,000. Broad Peak Investment Advisers Pte Ltd acquired a new stake in Unity Software in the first quarter valued at approximately $47,648,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Unity Software during the first quarter worth approximately $43,265,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

About Unity Software

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.