Unity Software Inc. (NYSE:U) Receives $23.35 Average Target Price from Brokerages

Unity Software Inc. (NYSE:U) has been assigned an average recommendation of “Hold” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $23.35.

Several research analysts have recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Unity Software from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company started coverage on shares of Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 price objective for the company. Barclays increased their target price on shares of Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a report on Friday, August 9th. Finally, Stifel Nicolaus boosted their target price on Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th.

Insider Buying and Selling at Unity Software

In other news, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the transaction, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Helgason sold 250,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 534,550 shares of company stock valued at $10,148,127. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Unity Software by 343.8% during the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 949 shares in the last quarter. Planning Capital Management Corp bought a new stake in shares of Unity Software in the third quarter worth approximately $34,000. Brooklyn Investment Group bought a new stake in shares of Unity Software in the third quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Unity Software by 163.0% during the second 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 during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Unity Software by 31.6% during the first 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 during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

U opened at $23.53 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. Unity Software has a 1 year low of $13.90 and a 1 year high of $43.54. The stock’s 50 day simple moving average is $20.98 and its 200 day simple moving average is $18.63. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of -11.53 and a beta of 2.29.

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.