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

Unity Software Inc. (NYSE:U) has received an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $37.7111.

Several research analysts recently issued reports on U shares. UBS Group increased their price target on shares of Unity Software from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Wedbush increased their price target on shares of Unity Software from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company increased their price target on shares of Unity Software from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Needham & Company LLC increased their price target on shares of Unity Software from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Piper Sandler started coverage on shares of Unity Software in a report on Tuesday, June 2nd. They set an “overweight” rating and a $40.00 price target for the company.

Insider Buying and Selling

In other Unity Software news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the transaction, the chief financial officer directly owned 704,360 shares of the company’s stock, valued at approximately $19,144,504.80. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $3,777,829.74. Following the completion of the transaction, the chief executive officer directly owned 1,557,514 shares of the company’s stock, valued at approximately $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. 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 sold a total of 198,321 shares of company stock valued at $5,390,783 in the last 90 days. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. REAP Financial Group LLC purchased a new position in Unity Software in the fourth quarter valued at about $28,000. Larson Financial Group LLC increased its holdings in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Unity Software in the fourth quarter valued at about $30,000. IFP Advisors Inc purchased a new position in Unity Software in the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC purchased a new position in Unity Software in the fourth quarter valued at about $36,000. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Trading Up 3.8%

NYSE U opened at $27.48 on Friday. The stock has a market capitalization of $12.00 billion, a P/E ratio of -17.50, a P/E/G ratio of 3.39 and a beta of 2.06. Unity Software has a 52-week low of $16.78 and a 52-week high of $52.15. The firm has a 50-day moving average price of $26.75 and a 200 day moving average price of $30.25. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

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.