Unity Software Inc. (NYSE:U) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Unity Software Inc. has received an average analyst rating of "Moderate Buy", with two sell recommendations, seven holds, eight buys, and two strong buys from a total of nineteen analysts.
• The company's stock price objective has a one-year average target of $31.20, with varying target price adjustments from different brokerages, including a significant raise by Citigroup from $29.00 to $44.00.
• Insider trading activity revealed that company Director Shlomo Dovrat sold 50,000 shares of Unity stock for $1.5 million, representing a 20.91% decrease in their ownership stake.

Shares of Unity Software Inc. (NYSE:U - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nineteen brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $31.20.

Several research firms have recently weighed in on U. Needham & Company LLC upped their price target on shares of Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Jefferies Financial Group upped their price target on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Stifel Nicolaus reduced their price target on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Unity Software from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, JMP Securities increased their target price on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th.

Insider Buying and Selling at Unity Software

In related news, Director David Helgason sold 261,473 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the completion of the transaction, the director owned 7,489,173 shares in the company, valued at approximately $192,471,746.10. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Alexander Blum sold 63,813 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the transaction, the chief operating officer owned 603,811 shares of the company's stock, valued at $23,796,191.51. The trade was a 9.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,004,655 shares of company stock valued at $30,421,811 in the last three months. 3.61% of the stock is currently owned by insiders.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after acquiring an additional 1,841,486 shares in the last quarter. Slate Path Capital LP raised its position in Unity Software by 25.4% during the second quarter. Slate Path Capital LP now owns 20,016,952 shares of the company's stock worth $484,410,000 after acquiring an additional 4,048,484 shares in the last quarter. Atreides Management LP raised its position in Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock worth $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Norges Bank bought a new stake in Unity Software during the second quarter worth $151,221,000. Finally, Geode Capital Management LLC raised its position in Unity Software by 0.7% during the second quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company's stock worth $122,587,000 after acquiring an additional 36,105 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Down 0.4%

Shares of Unity Software stock traded down $0.15 on Friday, hitting $40.19. The company had a trading volume of 7,566,142 shares, compared to its average volume of 14,960,619. The firm has a market capitalization of $16.98 billion, a P/E ratio of -37.92 and a beta of 2.32. Unity Software has a twelve month low of $15.33 and a twelve month high of $41.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a 50-day moving average of $32.21 and a 200-day moving average of $25.55.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The company had revenue of $440.94 million during the quarter, compared to analyst estimates of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) EPS. Research analysts predict that Unity Software will post -1.25 earnings per share for the current year.

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.