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

Unity Software (NYSE:U) had its price target upped by Barclays from $16.00 to $18.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on U. The Goldman Sachs Group cut their price target on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a report on Friday, October 18th. Stifel Nicolaus raised their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Macquarie raised their target price on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a report on Tuesday, September 17th. Finally, Wedbush increased their price target on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.35.

Unity Software Trading Down 7.7 %

U stock traded down $1.71 during trading on Friday, reaching $20.50. The company had a trading volume of 24,571,434 shares, compared to its average volume of 10,404,142. Unity Software has a 52 week low of $13.90 and a 52 week high of $43.54. The business has a 50 day moving average of $20.42 and a 200 day moving average of $18.97. The company has a market cap of $8.14 billion, a P/E ratio of -10.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business had revenue of $449.30 million during the quarter, compared to the consensus estimate of $438.37 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. As a group, sell-side analysts forecast that Unity Software will post -1.86 earnings per share for the current fiscal year.

Insider Activity

In other Unity Software news, SVP Felix The sold 30,000 shares of the business’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 transaction of $536,700.00. Following the sale, the senior vice president now owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 281,600 shares of company stock worth $5,714,000. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

A number of large investors have recently added to or reduced their stakes in the stock. Capital International Investors increased its position in Unity Software by 426.1% during the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock worth $210,193,000 after purchasing an additional 6,376,034 shares during the last quarter. Capital Research Global Investors boosted its stake in Unity Software by 18.7% during the first quarter. Capital Research Global Investors now owns 8,524,448 shares of the company’s stock worth $227,603,000 after buying an additional 1,342,787 shares during the period. Van ECK Associates Corp boosted its stake in Unity Software by 35.0% during the second quarter. Van ECK Associates Corp now owns 1,956,029 shares of the company’s stock worth $31,805,000 after buying an additional 507,274 shares during the period. Bank of New York Mellon Corp boosted its stake in Unity Software by 40.6% during the second quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after buying an additional 424,806 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Unity Software by 161.3% during the second quarter. Canada Pension Plan Investment Board now owns 579,179 shares of the company’s stock worth $9,417,000 after buying an additional 357,500 shares during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.