Raymond James Financial Begins Coverage on Unity Software (NYSE:U)

Key Points

• Raymond James Financial began coverage of Unity Software with a "market perform" rating, adding to a mixed analyst picture that still leans positive overall.
• Other analysts have recently issued varied views, including higher price targets from UBS, Barclays, Piper Sandler, and Needham. The consensus among MarketBeat-tracked analysts is “Moderate Buy” with an average price target of $37.71.
• Unity Software shares rose 1.7% to $28.71 on Monday, while recent insider activity included stock sales by CEO Matthew S. Bromberg and CFO Jarrod Yahes tied to tax withholding from equity vesting.

Equities researchers at Raymond James Financial began coverage on shares of Unity Software (NYSE:U - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a "market perform" rating on the stock.

A number of other equities research analysts have also commented on the stock. UBS Group upped their price objective on shares of Unity Software from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Barclays boosted their target price on shares of Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Piper Sandler initiated coverage on shares of Unity Software in a research report on Tuesday, June 2nd. They set an "overweight" rating and a $40.00 price target on the stock. Wall Street Zen downgraded Unity Software from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Needham & Company LLC boosted their price objective on Unity Software from $35.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Unity Software presently has an average rating of "Moderate Buy" and a consensus price target of $37.71.

Unity Software Trading Up 1.7%

NYSE:U traded up $0.48 on Monday, reaching $28.71. 308,895 shares of the stock traded hands, compared to its average volume of 14,425,329. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Unity Software has a 1-year low of $16.78 and a 1-year high of $52.15. The company's 50 day moving average is $27.29 and its 200-day moving average is $29.50. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of -18.43, a price-to-earnings-growth ratio of 3.61 and a beta of 2.06.

Insider Buying and Selling

In other news, CEO Matthew S. Bromberg sold 138,993 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 24,021 shares of Unity Software stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the transaction, the chief financial officer directly owned 704,360 shares in the company, valued at approximately $19,144,504.80. The trade was a 3.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several large investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. grew its stake in shares of Unity Software by 12.9% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company's stock worth $108,000 after acquiring an additional 308 shares in the last quarter. Xponance Inc. lifted its position in shares of Unity Software by 1.8% during the third quarter. Xponance Inc. now owns 18,291 shares of the company's stock valued at $732,000 after purchasing an additional 328 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company's stock worth $29,000 after purchasing an additional 341 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Unity Software by 3.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company's stock worth $656,000 after purchasing an additional 449 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Unity Software by 2.1% in the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company's stock worth $540,000 after purchasing an additional 462 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Unity Software Company Profile

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.

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