UBS Group Raises Unity Software (NYSE:U) Price Target to $23.00

Unity Software (NYSE:U) had its price objective increased by equities research analysts at UBS Group from $21.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 0.82% from the company’s previous close.

U has been the subject of several other research reports. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Macquarie upped their price target on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Benchmark increased their target price on shares of Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research report on Friday, November 8th. Needham & Company LLC increased their target price on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Barclays increased their target price on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.81.

Unity Software Trading Up 2.8 %

U stock traded up $0.63 during midday trading on Wednesday, reaching $22.81. 676,461 shares of the company’s stock traded hands, compared to its average volume of 10,197,237. The business has a 50-day moving average price of $23.13 and a two-hundred day moving average price of $20.19. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $35.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $9.19 billion, a P/E ratio of -11.19 and a beta of 2.32.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The firm had revenue of $446.52 million for the quarter, compared to analysts’ expectations of $428.01 million. During the same period in the prior year, the company posted ($0.12) earnings per share. Equities research analysts forecast that Unity Software will post -1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Shlomo Dovrat sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $17.99, for a total transaction of $67,462.50. Following the transaction, the director now owns 2,394,935 shares of the company’s stock, valued at approximately $43,084,880.65. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares in the company, valued at approximately $74,427,517.92. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 764,487 shares of company stock worth $17,521,180 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Encompass More Asset Management acquired a new stake in Unity Software during the fourth quarter worth $1,501,000. Ariose Capital Management Ltd acquired a new stake in Unity Software during the fourth quarter worth $2,299,000. Avanza Fonder AB acquired a new stake in Unity Software during the fourth quarter worth $732,000. Everence Capital Management Inc. acquired a new stake in Unity Software during the fourth quarter worth $265,000. Finally, GAMMA Investing LLC boosted its stake in Unity Software by 33.6% during the fourth quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after buying an additional 411 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

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.