Unity Software’s (U) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Unity Software (NYSE:U) in a research report sent to investors on Thursday, Benzinga reports. Wedbush currently has a $33.50 target price on the stock.

Other analysts have also issued research reports about the company. Needham & Company LLC decreased their price target on Unity Software from $40.00 to $31.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. Piper Sandler upgraded shares of Unity Software from an underweight rating to a neutral rating and reduced their target price for the company from $35.00 to $30.00 in a research note on Tuesday, February 27th. Citigroup dropped their target price on shares of Unity Software from $50.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, February 28th. Stifel Nicolaus boosted their price target on shares of Unity Software from $32.00 to $35.00 and gave the company a buy rating in a research report on Friday, March 1st. Finally, William Blair reaffirmed an outperform rating on shares of Unity Software in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Unity Software currently has a consensus rating of Hold and a consensus price target of $37.03.

Unity Software Trading Up 2.4 %

Shares of U stock opened at $24.74 on Thursday. The firm has a fifty day moving average of $26.08 and a 200-day moving average of $30.28. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of -11.45 and a beta of 2.40. Unity Software has a 52-week low of $22.20 and a 52-week high of $50.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

Unity Software (NYSE:U) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.89). The business had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative return on equity of 10.14% and a negative net margin of 37.64%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the company earned ($0.50) EPS. On average, equities research analysts forecast that Unity Software will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Anirma Gupta sold 1,037 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.42, for a total value of $25,323.54. Following the transaction, the senior vice president now directly owns 386,706 shares in the company, valued at $9,443,360.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James M. Whitehurst sold 44,091 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.56, for a total transaction of $1,435,602.96. Following the completion of the transaction, the chief executive officer now directly owns 155,909 shares in the company, valued at approximately $5,076,397.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Anirma Gupta sold 1,037 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.42, for a total transaction of $25,323.54. Following the completion of the sale, the senior vice president now owns 386,706 shares in the company, valued at $9,443,360.52. The disclosure for this sale can be found here. In the last three months, insiders sold 338,917 shares of company stock valued at $9,460,820. 6.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

Several large investors have recently bought and sold shares of U. Norges Bank bought a new stake in shares of Unity Software in the fourth quarter worth about $379,180,000. Capital Research Global Investors increased its stake in Unity Software by 510.2% during the 4th quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock worth $293,658,000 after purchasing an additional 6,004,655 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Unity Software by 32.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock worth $302,419,000 after buying an additional 2,787,058 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after buying an additional 2,777,884 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Unity Software in the third quarter valued at approximately $82,988,000. 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.