Brokerages Set Unity Software Inc. (NYSE:U) Target Price at $24.21

Unity Software Inc. (NYSE:U) has earned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.21.

U has been the subject of a number of recent analyst reports. Needham & Company LLC cut their price target on shares of Unity Software from $31.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler reissued a “neutral” rating and issued a $17.00 price objective (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. The Goldman Sachs Group dropped their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Morgan Stanley raised shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Macquarie raised their price target on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 17th.

Unity Software Stock Up 5.6 %

Shares of U stock opened at $21.84 on Wednesday. The firm has a fifty day moving average of $17.81 and a 200-day moving average of $19.80. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of -9.75 and a beta of 2.28.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter in the prior year, the company posted ($0.26) earnings per share. The firm’s revenue was down 15.8% on a year-over-year basis. As a group, equities research analysts predict that Unity Software will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Helgason sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Anirma Gupta sold 1,506 shares of Unity Software stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now owns 8,201,851 shares of the company’s stock, valued at $168,876,112.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 283,906 shares of company stock worth $5,753,611 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Several hedge funds have recently modified their holdings of the stock. Tradewinds Capital Management LLC increased its stake in Unity Software by 245.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Unity Software by 2,429.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock valued at $28,000 after purchasing an additional 996 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Unity Software by 31.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Unity Software during the 1st quarter worth $65,000. 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.