Unity Software Inc. (NYSE:U) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Unity Software Inc. (NYSE:U) have received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $37.7667.

Several equities research analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. BTIG Research lifted their target price on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Piper Sandler assumed coverage on Unity Software in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Unity Software from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen cut shares of Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th.

Unity Software Stock Performance

Shares of Unity Software stock opened at $30.76 on Tuesday. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock has a market cap of $13.43 billion, a PE ratio of -19.59, a price-to-earnings-growth ratio of 3.74 and a beta of 2.05. The business has a fifty day simple moving average of $28.12 and a 200-day simple moving average of $28.21.

Insider Transactions at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 13,247 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $360,053.46. Following the completion of the sale, the chief accounting officer owned 370,654 shares in the company, valued at $10,074,375.72. This represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of Unity Software stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the sale, the senior vice president directly owned 309,445 shares of the company’s stock, valued at $8,416,904. This trade represents a 0.31% 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. In the last quarter, insiders have sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is owned by company insiders.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Unity Software by 58.7% during the third quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock valued at $729,284,000 after purchasing an additional 6,734,285 shares during the last quarter. Norges Bank acquired a new position in Unity Software in the 4th quarter worth about $230,285,000. Renaissance Technologies LLC acquired a new position in Unity Software in the 1st quarter worth about $54,534,000. Duquesne Family Office LLC acquired a new position in Unity Software in the 2nd quarter worth about $42,932,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Unity Software by 52.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after purchasing an additional 1,465,962 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.