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

Key Points

• Unity Software has a consensus analyst rating of “Moderate Buy” from 22 covering analysts, with the average 12-month price target at about $37.71.
• Recent analyst actions were mostly positive, including higher price targets from Morgan Stanley, Piper Sandler, and Wells Fargo, while Wall Street Zen was a notable downgrade to hold.
• Insider selling has been active recently, with executives including the COO and CAO selling shares; over the past 90 days, insiders sold 198,321 shares valued at about $5.39 million.

Unity Software Inc. (NYSE:U - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $37.7111.

Several research firms have issued reports on U. Morgan Stanley upped their price objective on shares of Unity Software from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Friday, March 27th. Piper Sandler began coverage on shares of Unity Software in a research note on Tuesday, June 2nd. They issued an "overweight" rating and a $40.00 price objective for the company. Wall Street Zen downgraded shares of Unity Software from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Wells Fargo & Company upped their price objective on shares of Unity Software from $29.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $37.00 price objective on shares of Unity Software in a research note on Friday, March 27th.

Unity Software Stock Performance

NYSE U opened at $27.48 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. Unity Software has a 1 year low of $16.78 and a 1 year high of $52.15. The company has a market capitalization of $12.00 billion, a PE ratio of -17.50, a P/E/G ratio of 3.39 and a beta of 2.06. The company has a fifty day moving average of $26.75 and a two-hundred day moving average of $30.25.

Insider Buying and Selling at Unity Software

In other news, COO Alexander Blum sold 2,099 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the sale, the chief operating officer owned 727,970 shares in the company, valued at approximately $19,924,538.90. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $360,053.46. Following the sale, the chief accounting officer owned 370,654 shares of the company's stock, valued at $10,074,375.72. This trade represents a 3.45% 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. In the last ninety days, insiders have sold 198,321 shares of company stock valued at $5,390,783. Corporate insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. boosted its stake in shares of Unity Software by 12.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company's stock worth $108,000 after buying an additional 308 shares during the period. Xponance Inc. boosted its stake in shares of Unity Software by 1.8% during the third quarter. Xponance Inc. now owns 18,291 shares of the company's stock worth $732,000 after buying an additional 328 shares during the period. Larson Financial Group LLC boosted its stake in shares of 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 buying an additional 341 shares during the period. Swiss Life Asset Management Ltd raised 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 in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Unity Software by 2.1% during the second 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. Institutional investors and hedge funds own 73.46% of the company's stock.

About Unity Software

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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