Unity Software Inc. (NYSE:U) Given Average Rating of "Moderate Buy" by Analysts

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 an average rating of "Moderate Buy" by the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.20.

Several brokerages have weighed in on U. Stifel Nicolaus lowered their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Citigroup upped their target price on shares of Unity Software from $29.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Unity Software from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Wells Fargo & Company raised their target price on shares of Unity Software from $24.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Bank of America initiated coverage on Unity Software in a research note on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price on the stock.

Insiders Place Their Bets

In other news, Director Shlomo Dovrat sold 50,000 shares of Unity Software stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the completion of the sale, the director directly owned 189,089 shares in the company, valued at approximately $5,674,560.89. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alexander Blum sold 2,582 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $32.99, for a total value of $85,180.18. Following the sale, the chief operating officer owned 716,926 shares in the company, valued at approximately $23,651,388.74. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,214,694 shares of company stock worth $31,384,519. Corporate insiders own 3.61% of the company's stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently modified their holdings of U. Vanguard Group Inc. boosted its stake in Unity Software by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock worth $645,775,000 after buying an additional 1,841,486 shares during the last quarter. Slate Path Capital LP grew its holdings in Unity Software by 25.4% during the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company's stock valued at $484,410,000 after purchasing an additional 4,048,484 shares in the last quarter. Atreides Management LP increased its position in shares of 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 during the last quarter. Norges Bank purchased a new position in shares of Unity Software during the 2nd quarter valued at approximately $151,221,000. Finally, Geode Capital Management LLC increased its position in shares of Unity Software by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company's stock worth $122,587,000 after purchasing an additional 36,105 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Price Performance

Shares of NYSE U opened at $39.0440 on Friday. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of -36.83 and a beta of 2.32. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software has a 52 week low of $15.33 and a 52 week high of $39.72. The firm has a 50-day simple moving average of $30.92 and a 200-day simple moving average of $25.02.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 13.59% and a negative net margin of 24.38%.The firm's revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business earned ($0.32) earnings per share. On average, equities analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.