Unity Software (NYSE:U) Trading Up 12.4% After Analyst Upgrade

Shares of Unity Software Inc. (NYSE:U - Get Free Report) were up 12.4% during mid-day trading on Thursday after UBS Group raised their price target on the stock from $22.00 to $33.00. UBS Group currently has a neutral rating on the stock. Unity Software traded as high as $38.60 and last traded at $38.15. Approximately 12,867,709 shares were traded during trading, an increase of 8% from the average daily volume of 11,869,756 shares. The stock had previously closed at $33.94.

U has been the subject of several other research reports. Bank of America started coverage on Unity Software in a research report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price for the company. Stifel Nicolaus decreased their target price on Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group upped their target price on Unity Software from $29.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen downgraded Unity Software from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Wedbush upgraded Unity Software to a "strong-buy" rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Unity Software presently has a consensus rating of "Moderate Buy" and an average price target of $25.93.

Insider Activity

In other news, CEO Matthew S. Bromberg sold 133,072 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the completion of the sale, the chief executive officer owned 1,222,812 shares in the company, valued at approximately $25,972,526.88. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total value of $6,597,500.00. Following the sale, the director owned 2,398,146 shares of the company's stock, valued at $63,287,072.94. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,226,809 shares of company stock worth $29,913,123 in the last quarter. 3.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

A number of hedge funds have recently modified their holdings of U. Janney Montgomery Scott LLC raised its holdings in shares of Unity Software by 116.2% during the first quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock worth $570,000 after acquiring an additional 15,633 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Unity Software during the first quarter worth $433,000. Vanguard Group Inc. raised its holdings in shares of Unity Software by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock worth $699,335,000 after acquiring an additional 625,872 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Unity Software during the fourth quarter worth $1,151,000. Finally, GAMMA Investing LLC raised its holdings in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock worth $55,000 after acquiring an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

Unity Software Trading Up 12.3%

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. The company has a fifty day moving average of $24.53 and a 200-day moving average of $22.70. The firm has a market capitalization of $15.85 billion, a PE ratio of -34.10 and a beta of 2.29.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.19. The firm had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative net margin of 25.21% and a negative return on equity of 14.12%. The business's quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. On average, sell-side analysts anticipate that Unity Software Inc. will post -1.25 earnings per share for the current fiscal 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.

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