Unity Software (NYSE:U) Trading Up 6.7% – Here’s What Happened

Unity Software Inc. (NYSE:U)’s stock price was up 6.7% during trading on Wednesday . The company traded as high as $21.24 and last traded at $21.12. Approximately 4,352,872 shares changed hands during trading, a decline of 58% from the average daily volume of 10,442,671 shares. The stock had previously closed at $19.80.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on U shares. Macquarie raised their price objective on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Benchmark increased their price objective on shares of Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a report on Friday, November 8th. Wells Fargo & Company initiated coverage on shares of Unity Software in a research note on Monday, October 28th. They issued an “equal weight” rating and a $20.00 target price on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Unity Software has an average rating of “Hold” and a consensus price target of $23.35.

Unity Software Stock Performance

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 stock has a 50 day simple moving average of $20.75 and a two-hundred day simple moving average of $18.65. The company has a market cap of $8.81 billion, a PE ratio of -10.32 and a beta of 2.29.

Insider Activity

In other Unity Software news, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Felix The sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now directly owns 423,679 shares in the company, valued at approximately $7,579,617.31. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 530,800 shares of company stock valued at $10,080,664. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Unity Software by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 12,752 shares of the company’s stock valued at $340,000 after purchasing an additional 1,113 shares in the last quarter. Vanguard Group Inc. boosted its stake in Unity Software by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after acquiring an additional 208,566 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in Unity Software by 105.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,500 shares of the company’s stock valued at $93,000 after acquiring an additional 1,800 shares during the last quarter. Natixis bought a new position in Unity Software during the 1st quarter valued at $2,843,000. Finally, EntryPoint Capital LLC bought a new position in Unity Software during the 1st quarter valued at $65,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.