Brokerages Set Unity Software Inc. (NYSE:U) Price Target at $34.79

Shares of Unity Software Inc. (NYSE:U) have been assigned a consensus rating of “Hold” from the twenty-two research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $34.79.

Several equities analysts have recently weighed in on U shares. Benchmark reiterated a “sell” rating and set a $16.00 price objective on shares of Unity Software in a report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and set a $31.00 price objective on shares of Unity Software in a report on Friday, May 10th. Citigroup cut their price objective on Unity Software from $50.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Stifel Nicolaus cut their price objective on Unity Software from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Finally, Wedbush reiterated an “outperform” rating and set a $33.50 price objective on shares of Unity Software in a report on Friday, May 10th.

Unity Software Stock Performance

Shares of NYSE:U opened at $16.46 on Monday. Unity Software has a twelve month low of $15.23 and a twelve month high of $50.08. The firm has a market cap of $6.43 billion, a PE ratio of -7.35 and a beta of 2.28. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.15 and a current ratio of 2.15. The business has a fifty day moving average of $20.37 and a 200-day moving average of $27.88.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.13. The business had revenue of $460.38 million for the quarter, compared to analysts’ expectations of $422.53 million. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. On average, equities research analysts predict that Unity Software will post -1.81 EPS for the current fiscal year.

Insider Activity

In other news, Chairman James M. Whitehurst sold 49,854 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $952,211.40. Following the completion of the transaction, the chairman now owns 313,266 shares of the company’s stock, valued at approximately $5,983,380.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman James M. Whitehurst sold 49,854 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $952,211.40. Following the sale, the chairman now owns 313,266 shares in the company, valued at approximately $5,983,380.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marc Whitten sold 86,768 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total value of $1,787,420.80. Following the sale, the insider now owns 2,483 shares in the company, valued at approximately $51,149.80. The disclosure for this sale can be found here. In the last three months, insiders sold 247,736 shares of company stock worth $4,885,280. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Unity Software by 4.8% in the third quarter. Northern Trust Corp now owns 1,583,326 shares of the company’s stock worth $49,701,000 after purchasing an additional 72,770 shares during the last quarter. Capital Research Global Investors increased its position in shares of Unity Software by 510.2% during the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after acquiring an additional 6,004,655 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Unity Software by 26.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,336 shares of the company’s stock valued at $1,445,000 after acquiring an additional 7,484 shares during the last quarter. Seldon Capital LP purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $7,576,000. Finally, Natixis Advisors L.P. increased its position in shares of Unity Software by 3.2% during the third quarter. Natixis Advisors L.P. now owns 13,226 shares of the company’s stock valued at $415,000 after acquiring an additional 407 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

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.