Unity Software (NYSE:U) Given New $35.00 Price Target at Jefferies Financial Group

Unity Software (NYSE:U - Get Free Report) had its target price raised by equities research analysts at Jefferies Financial Group from $29.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 3.10% from the company's previous close.

U has been the topic of a number of other research reports. Morgan Stanley dropped their price objective on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group dropped their price target on shares of Unity Software from $30.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Bank of America started coverage on shares of Unity Software in a research report on Thursday, June 26th. They set an "underperform" rating and a $15.00 price objective for the company. Wedbush upgraded shares of Unity Software to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen cut shares of Unity Software from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.20.

Unity Software Stock Performance

Shares of NYSE U traded up $4.26 during midday trading on Wednesday, hitting $33.95. The company had a trading volume of 40,090,767 shares, compared to its average volume of 11,855,667. Unity Software has a twelve month low of $13.90 and a twelve month high of $34.53. The business has a 50-day simple moving average of $24.27 and a two-hundred day simple moving average of $22.62. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. Unity Software's revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Sell-side analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 13,757 shares of Unity Software stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $21.23, for a total value of $292,061.11. Following the transaction, the chief accounting officer owned 466,651 shares in the company, valued at $9,907,000.73. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew S. Bromberg sold 133,072 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the transaction, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,225,798 shares of company stock worth $29,880,467. 3.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position in shares of Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after acquiring an additional 1,212 shares during the period. CX Institutional bought a new position in Unity Software in the second quarter worth approximately $25,000. Anderson Financial Strategies LLC bought a new position in Unity Software in the fourth quarter worth approximately $28,000. Banque Transatlantique SA acquired a new stake in Unity Software in the first quarter valued at approximately $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Unity Software during the fourth quarter valued at approximately $36,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Company Profile

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.