Unity Software (NYSE:U) Rating Reiterated by Wedbush

Unity Software (NYSE:U)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They currently have a $33.50 price objective on the stock. Wedbush’s target price would indicate a potential upside of 35.41% from the company’s previous close.

A number of other analysts have also recently commented on U. William Blair restated an “outperform” rating on shares of Unity Software in a research note on Tuesday, January 9th. The Goldman Sachs Group lifted their price target on Unity Software from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Needham & Company LLC cut their target price on Unity Software from $40.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Macquarie cut Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research report on Monday, February 12th. Finally, Citigroup cut their price objective on shares of Unity Software from $50.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.03.

Unity Software Stock Up 2.4 %

Unity Software stock traded up $0.58 during mid-day trading on Thursday, reaching $24.74. The stock had a trading volume of 5,753,162 shares, compared to its average volume of 5,937,102. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60. Unity Software has a fifty-two week low of $22.20 and a fifty-two week high of $50.08. The stock’s 50-day simple moving average is $26.08 and its 200-day simple moving average is $30.25. The firm has a market capitalization of $9.55 billion, a PE ratio of -11.46 and a beta of 2.40.

Unity Software (NYSE:U) last announced its earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.89). The company had revenue of $609.27 million for the quarter, compared to analysts’ expectations of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.50) EPS. On average, sell-side analysts forecast that Unity Software will post -0.63 EPS for the current fiscal year.

Insider Activity at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $26.59, for a total value of $6,647,500.00. Following the sale, the director now owns 4,498,146 shares in the company, valued at $119,605,702.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $6,647,500.00. Following the completion of the transaction, the director now owns 4,498,146 shares of the company’s stock, valued at $119,605,702.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Whitehurst sold 44,091 shares of Unity Software stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.56, for a total value of $1,435,602.96. Following the completion of the transaction, the chief executive officer now directly owns 155,909 shares of the company’s stock, valued at approximately $5,076,397.04. The disclosure for this sale can be found here. Insiders have sold a total of 338,917 shares of company stock worth $9,460,820 over the last quarter. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Unity Software in the 4th quarter worth about $379,180,000. Capital Research Global Investors raised its position in Unity Software by 510.2% in the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after buying an additional 6,004,655 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Unity Software by 32.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after buying an additional 2,787,058 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Unity Software by 30.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock worth $317,984,000 after buying an additional 2,777,884 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Unity Software in the 3rd quarter worth about $82,988,000. Hedge funds and other institutional investors 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.