Unity Software (NYSE:U) Receives Outperform Rating from Wedbush

Unity Software (NYSE:U)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They currently have a $33.50 price objective on the stock. Wedbush’s target price would suggest a potential upside of 47.06% from the company’s previous close.

A number of other research analysts also recently weighed in on U. Citigroup decreased their price target on Unity Software from $50.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Barclays decreased their price target on Unity Software from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. Piper Sandler raised Unity Software from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. Stifel Nicolaus raised their price objective on Unity Software from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Macquarie cut Unity Software from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.03.

Unity Software Stock Down 5.7 %

Shares of NYSE:U traded down $1.38 during mid-day trading on Friday, reaching $22.78. 9,287,827 shares of the stock were exchanged, compared to its average volume of 9,543,085. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.85. The company has a market cap of $8.79 billion, a P/E ratio of -10.60 and a beta of 2.40. Unity Software has a one year low of $22.20 and a one year high of $50.08. The stock’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $30.17.

Unity Software (NYSE:U) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The company had revenue of $609.27 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.50) earnings per share. As a group, equities research analysts predict that Unity Software will post -0.63 EPS for the current year.

Insider Buying and Selling at Unity Software

In other news, CEO James M. Whitehurst sold 44,091 shares of Unity Software stock in a transaction on 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 transaction, the chief executive officer now owns 155,909 shares in the company, valued at approximately $5,076,397.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Unity Software news, CFO Luis Felipe Visoso sold 11,756 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.55, for a total value of $382,657.80. Following the sale, the chief financial officer now owns 1,100,133 shares in the company, valued at approximately $35,809,329.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James M. Whitehurst sold 44,091 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.56, for a total value of $1,435,602.96. Following the completion of the sale, the chief executive officer now owns 155,909 shares in the company, valued at approximately $5,076,397.04. The disclosure for this sale can be found here. Insiders sold 338,917 shares of company stock valued at $9,460,820 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL lifted its stake in shares of Unity Software by 16.8% in the 1st quarter. Blair William & Co. IL now owns 209,309 shares of the company’s stock valued at $5,589,000 after purchasing an additional 30,099 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Unity Software by 6.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 333,565 shares of the company’s stock worth $8,906,000 after purchasing an additional 20,997 shares in the last quarter. Interchange Capital Partners LLC increased its holdings in Unity Software by 27.9% during the 1st quarter. Interchange Capital Partners LLC now owns 12,151 shares of the company’s stock worth $332,000 after purchasing an additional 2,652 shares in the last quarter. Entropy Technologies LP bought a new stake in Unity Software during the 1st quarter worth approximately $2,107,000. Finally, Russell Investments Group Ltd. increased 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 worth $340,000 after purchasing an additional 1,113 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.