Unity Software (NYSE:U) Price Target Raised to $27.00 at Wedbush

Unity Software (NYSE:U) had its target price boosted by Wedbush from $21.00 to $27.00 in a research note published on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of Unity Software from $26.00 to $22.50 and set a neutral rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus upped their price target on shares of Unity Software from $20.00 to $25.00 and gave the stock a buy rating in a research note on Friday, September 13th. Piper Sandler reissued a neutral rating and set a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Benchmark dropped their target price on Unity Software from $16.00 to $10.00 and set a sell rating on the stock in a research report on Friday, August 9th. Finally, JMP Securities reiterated a market perform rating on shares of Unity Software in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Unity Software has an average rating of Hold and a consensus price target of $27.46.

Unity Software Price Performance

U opened at $20.28 on Monday. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $8.05 billion, a P/E ratio of -9.05 and a beta of 2.25. The stock has a fifty day moving average of $16.72 and a 200-day moving average of $20.14.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. During the same period last year, the company posted ($0.26) EPS. The business’s quarterly revenue was down 15.8% compared to the same quarter last year. Equities analysts forecast that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Activity

In related news, 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 of the company’s stock, valued at approximately $168,876,112.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Unity Software news, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. The disclosure for this sale can be found here. Insiders have sold a total of 285,472 shares of company stock valued at $5,778,479 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of U. Capital Impact Advisors LLC acquired a new position in shares of Unity Software during the second quarter valued at about $440,000. Northwestern Mutual Wealth Management Co. raised its holdings in Unity Software by 163.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after acquiring an additional 1,389 shares in the last quarter. Creative Planning lifted its position in shares of Unity Software by 111.7% in the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after acquiring an additional 71,325 shares during the period. Susquehanna Fundamental Investments LLC grew its holdings in shares of Unity Software by 127.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 330,160 shares of the company’s stock worth $5,368,000 after purchasing an additional 184,922 shares in the last quarter. Finally, Scientech Research LLC increased its position in shares of Unity Software by 615.3% during the second quarter. Scientech Research LLC now owns 77,785 shares of the company’s stock valued at $1,265,000 after purchasing an additional 66,911 shares during the period. Institutional investors and hedge funds 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.