Unity Software (NYSE:U) Rating Increased to Buy at Jefferies Financial Group

Unity Software (NYSE:U) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a $29.00 target price on the stock, up from their previous target price of $22.00. Jefferies Financial Group’s target price suggests a potential upside of 11.07% from the company’s previous close.

Several other research firms have also commented on U. Wedbush lowered Unity Software from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, May 7th. Hsbc Global Res raised shares of Unity Software to a “strong-buy” rating in a research note on Friday, February 21st. Citizens Jmp upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. UBS Group dropped their target price on shares of Unity Software from $30.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Stifel Nicolaus dropped their price target on Unity Software from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.14.

Unity Software Trading Up 9.8%

U opened at $26.11 on Friday. 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 has a 12-month low of $13.90 and a 12-month high of $30.88. The firm’s fifty day moving average price is $20.71 and its 200 day moving average price is $22.18. The stock has a market capitalization of $10.85 billion, a PE ratio of -15.54 and a beta of 2.29.

Unity Software (NYSE:U) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Unity Software’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. As a group, research analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Transactions at Unity Software

In other news, CAO Mark Barrysmith sold 1,595 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $18.43, for a total transaction of $29,395.85. Following the sale, the chief accounting officer now owns 481,822 shares in the company, valued at approximately $8,879,979.46. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tomer Bar-Zeev sold 166,667 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $20.04, for a total transaction of $3,340,006.68. Following the completion of the sale, the director now owns 2,981,479 shares of the company’s stock, valued at $59,748,839.16. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,009,705 shares of company stock valued at $22,582,244. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Unity Software by 5.9% in the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock valued at $645,775,000 after acquiring an additional 1,841,486 shares during the last quarter. Capital International Investors raised its stake in shares of Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after buying an additional 1,786,032 shares during the last quarter. Norges Bank acquired a new position in Unity Software in the fourth quarter valued at approximately $269,320,000. Atreides Management LP boosted its stake in Unity Software by 146.7% in the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock valued at $184,752,000 after acquiring an additional 5,607,572 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Unity Software by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after acquiring an additional 84,480 shares during the period. 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.