Wells Fargo & Company Raises Unity Software (NYSE:U) Price Target to $36.00

Unity Software (NYSE:U) had its price objective increased by equities research analysts at Wells Fargo & Company from $35.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 21.54% from the stock’s previous close.

Other analysts have also issued research reports about the company. Bank of America upped their target price on Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, March 27th. Raymond James Financial initiated coverage on shares of Unity Software in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $37.00 price objective on shares of Unity Software in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Barclays lifted their target price on shares of Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Unity Software presently has an average rating of “Moderate Buy” and a consensus price target of $37.77.

Unity Software Stock Performance

NYSE U opened at $29.62 on Tuesday. The business has a 50 day moving average price of $27.73 and a 200 day moving average price of $28.73. The company has a market capitalization of $12.93 billion, a P/E ratio of -18.87, a PEG ratio of 3.55 and a beta of 2.05. Unity Software has a 1-year low of $16.78 and a 1-year high of $52.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Activity

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the transaction, the chief accounting officer owned 370,654 shares of the company’s stock, valued at $10,074,375.72. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 2,099 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total value of $57,449.63. Following the sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. This trade represents a 0.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 198,321 shares of company stock valued at $5,390,783 in the last 90 days. Insiders own 0.77% of the company’s stock.

Institutional Trading of Unity Software

A number of hedge funds have recently added to or reduced their stakes in U. Newbridge Financial Services Group Inc. grew its holdings in Unity Software by 12.9% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after buying an additional 308 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after acquiring an additional 341 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in shares of Unity Software by 3.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock worth $656,000 after acquiring an additional 449 shares during the period. Captrust Financial Advisors boosted its position in shares of Unity Software by 2.1% in the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after acquiring an additional 462 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Unity Software by 8.9% in the fourth quarter. Ritholtz Wealth Management now owns 5,732 shares of the company’s stock worth $253,000 after acquiring an additional 468 shares during the last quarter. 73.46% of the stock is 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.