Citizens Jmp Upgrades Unity Software (NYSE:U) to Strong-Buy

Unity Software (NYSE:U) was upgraded by research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC lifted their price objective on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley raised their target price on Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Wedbush reissued an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research report on Thursday, February 13th. Finally, HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.61.

Unity Software Price Performance

Shares of NYSE:U opened at $21.52 on Tuesday. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The business has a fifty day moving average price of $22.88 and a 200-day moving average price of $21.88. The company has a market capitalization of $8.81 billion, a PE ratio of -12.81 and a beta of 2.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. As a group, equities analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity

In related news, SVP Anirma Gupta sold 31,948 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $25.23, for a total value of $806,048.04. Following the transaction, the senior vice president now directly owns 542,942 shares of the company’s stock, valued at approximately $13,698,426.66. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total value of $6,255,000.00. Following the completion of the transaction, the director now directly owns 3,648,146 shares in the company, valued at approximately $91,276,612.92. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 864,537 shares of company stock valued at $20,839,722 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Large investors have recently added to or reduced their stakes in the company. Ariose Capital Management Ltd bought a new stake in Unity Software in the 4th quarter worth approximately $2,299,000. Charles Schwab Investment Management Inc. increased its stake in Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after acquiring an additional 944,709 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after purchasing an additional 330,088 shares during the last quarter. LMR Partners LLP bought a new stake in Unity Software in the third quarter worth $611,000. Finally, Edgestream Partners L.P. lifted its position in Unity Software by 637.9% in the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after buying an additional 88,955 shares during the last quarter. Institutional investors 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.