Unity Software Inc. (NYSE:U) Given Average Recommendation of “Moderate Buy” by Analysts

Unity Software Inc. (NYSE:U) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.32.

U has been the topic of several research analyst reports. Hsbc Global Res raised Unity Software to a “strong-buy” rating in a report on Friday, February 21st. Wedbush restated an “outperform” rating and set a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Macquarie started coverage on Unity Software in a report on Monday, March 10th. They set a “neutral” rating and a $24.00 target price for the company.

Unity Software Price Performance

NYSE:U opened at $20.18 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50 day moving average price of $22.50 and a 200-day moving average price of $22.32. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of -12.01 and a beta of 2.27.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. Equities research analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insiders Place Their Bets

In other Unity Software news, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total value of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total value of $6,255,000.00. Following the completion of the transaction, the director now owns 3,648,146 shares of the company’s stock, valued at $91,276,612.92. This trade represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 865,236 shares of company stock worth $20,849,425. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Unity Software during the fourth quarter worth approximately $269,320,000. Slate Path Capital LP acquired a new stake in shares of Unity Software during the 4th quarter worth $62,387,000. Capital International Investors raised its position in shares of Unity Software by 10.4% in the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after buying an additional 1,786,032 shares during the period. Ameriprise Financial Inc. boosted its holdings in Unity Software by 3,843.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after acquiring an additional 1,725,070 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after purchasing an additional 1,521,165 shares during the period. Hedge funds and other 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.