Unity Software (NYSE:U) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Unity Software (NYSE:U) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley lifted their price objective on Unity Software from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. UBS Group decreased their price target on Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Wells Fargo & Company dropped their price target on Unity Software from $54.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Unity Software in a research report on Friday. Finally, Citigroup reduced their price objective on shares of Unity Software from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.73.

Unity Software Stock Up 1.7%

Shares of U opened at $19.76 on Friday. Unity Software has a 12 month low of $15.33 and a 12 month high of $52.15. The firm’s 50 day moving average is $28.99 and its 200-day moving average is $37.15. The stock has a market capitalization of $8.55 billion, a PE ratio of -20.58, a P/E/G ratio of 10.42 and a beta of 2.15. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.52.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to the consensus estimate of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) earnings per share. Equities research analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insider Activity

In other Unity Software news, COO Alexander Blum sold 10,164 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.07, for a total value of $183,663.48. Following the transaction, the chief operating officer owned 550,966 shares in the company, valued at $9,955,955.62. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jarrod Yahes sold 12,196 shares of Unity Software stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total value of $220,381.72. Following the completion of the transaction, the chief financial officer owned 533,933 shares in the company, valued at approximately $9,648,169.31. This represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 41,684 shares of company stock worth $773,350. Insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Unity Software by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock worth $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Focus Partners Wealth acquired a new stake in Unity Software in the first quarter valued at approximately $260,000. Envestnet Asset Management Inc. acquired a new stake in Unity Software in the second quarter valued at approximately $238,000. Prospera Financial Services Inc grew its stake in shares of Unity Software by 22.2% during the second quarter. Prospera Financial Services Inc now owns 18,508 shares of the company’s stock worth $448,000 after buying an additional 3,366 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Unity Software by 28.4% during the second quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after buying an additional 412 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.