Unity Software (NYSE:U) Coverage Initiated by Analysts at Piper Sandler

Analysts at Piper Sandler started coverage on shares of Unity Software (NYSE:U) in a research report issued on Tuesday. The brokerage set an “overweight” rating and a $40.00 price target on the stock. Piper Sandler’s target price would suggest a potential upside of 30.15% from the company’s current price.

Several other analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 27th. BTIG Research upped their price target on Unity Software from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays lifted their price objective on Unity Software from $28.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen downgraded Unity Software from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Bank of America increased their target price on Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Unity Software currently has an average rating of “Moderate Buy” and an average target price of $37.71.

Unity Software Trading Up 0.9%

Shares of U traded up $0.26 during trading on Tuesday, reaching $30.73. 14,772,925 shares of the company traded hands, compared to its average volume of 11,191,657. The stock has a 50-day simple moving average of $24.67 and a 200-day simple moving average of $31.29. The stock has a market cap of $13.42 billion, a PE ratio of -19.99, a price-to-earnings-growth ratio of 3.90 and a beta of 2.04. Unity Software has a twelve month low of $16.78 and a twelve month high of $52.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling

In related news, CEO Matthew S. Bromberg sold 138,993 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $3,777,829.74. Following the transaction, the chief executive officer directly owned 1,557,514 shares of the company’s stock, valued at $42,333,230.52. This trade represents a 8.19% decrease in their position. The transaction 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, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the sale, the chief accounting officer directly owned 370,654 shares of the company’s stock, valued at approximately $10,074,375.72. This trade represents a 3.45% 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 204,526 shares of company stock valued at $5,521,274 over the last three months. 0.77% of the stock is currently owned by insiders.

Institutional Trading of Unity Software

A number of hedge funds and other institutional investors have recently made changes to their positions in U. REAP Financial Group LLC purchased a new position in Unity Software in the 4th quarter valued at $28,000. Larson Financial Group LLC boosted its holdings in shares of 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 acquiring an additional 341 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Unity Software during the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Unity Software in the third quarter valued at about $33,000. Finally, International Assets Investment Management LLC purchased a new stake in Unity Software in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

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.