Unity Software (NYSE:U) Raised to "Strong-Buy" at Wedbush

Unity Software (NYSE:U - Get Free Report) was upgraded by analysts at Wedbush to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on U. Needham & Company LLC dropped their target price on shares of Unity Software from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Unity Software from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Jefferies Financial Group raised shares of Unity Software from a "hold" rating to a "buy" rating and boosted their price target for the stock from $22.00 to $29.00 in a research note on Friday, May 30th. Morgan Stanley dropped their price target on shares of Unity Software from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group dropped their price target on shares of Unity Software from $30.00 to $22.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Unity Software currently has an average rating of "Moderate Buy" and an average target price of $24.47.

Unity Software Price Performance

Shares of Unity Software stock opened at $24.28 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.74 and a current ratio of 2.74. The firm's 50-day simple moving average is $23.06 and its 200-day simple moving average is $22.30. Unity Software has a twelve month low of $13.90 and a twelve month high of $30.88. The firm has a market cap of $10.09 billion, a P/E ratio of -21.68 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.19. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The firm's revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. As a group, research analysts expect that Unity Software will post -1.25 EPS for the current fiscal year.

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, Director James M. Whitehurst sold 72,955 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $1,549,564.20. Following the completion of the sale, the director owned 240,311 shares of the company's stock, valued at approximately $5,104,205.64. This represents a 23.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,127,944 shares of company stock valued at $27,166,375 in the last three months. 3.61% of the stock is currently owned by insiders.

Institutional Trading of Unity Software

A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its stake in shares of Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 1,212 shares during the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Unity Software during the 4th quarter worth about $28,000. Banque Transatlantique SA acquired a new stake in shares of Unity Software during the 1st quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Unity Software during the fourth quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. increased its position in Unity Software by 150.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock worth $40,000 after acquiring an additional 1,068 shares during the period. 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.

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