Unity Software (NYSE:U) Price Target Raised to $44.00

Unity Software (NYSE:U - Get Free Report) had its target price upped by Citigroup from $29.00 to $44.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 33.90% from the stock's current price.

U has been the subject of several other research reports. Barclays lowered their price objective on shares of Unity Software from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Morgan Stanley lowered their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. UBS Group raised their price objective on Unity Software from $22.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their price objective on Unity Software from $19.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, BTIG Research downgraded Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target for the company. in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.22.

Unity Software Stock Performance

Shares of NYSE:U traded down $0.48 during mid-day trading on Wednesday, reaching $32.86. 2,117,438 shares of the company traded hands, compared to its average volume of 12,141,896. The company's 50 day moving average price is $26.18 and its 200-day moving average price is $23.18. The firm has a market cap of $13.66 billion, a PE ratio of -29.34 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. Unity Software has a 52 week low of $13.90 and a 52 week high of $38.96.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.19. The firm had revenue of $435.00 million during 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%. The business's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, equities analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, Director Shlomo Dovrat sold 50,000 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total value of $1,500,500.00. Following the sale, the director owned 189,089 shares in the company, valued at $5,674,560.89. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.39, for a total transaction of $6,597,500.00. Following the completion of the sale, the director owned 2,398,146 shares in the company, valued at $63,287,072.94. The trade was a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,276,809 shares of company stock worth $31,561,623 in the last three months. 3.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently made changes to their positions in U. Cornerstone Planning Group LLC increased its stake in shares of Unity Software by 30,300.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after purchasing an additional 1,212 shares in the last quarter. CX Institutional purchased a new stake in shares of Unity Software in the second quarter valued at approximately $25,000. Anderson Financial Strategies LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at approximately $28,000. Banque Transatlantique SA purchased a new stake in shares of Unity Software in the first quarter valued at approximately $28,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Unity Software in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 73.46% of the company's stock.

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.