Unity Software (NYSE:U) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Unity Software (NYSE:U - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

U has been the subject of a number of other research reports. Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research note on Thursday, February 20th. 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 report on Thursday, May 8th. Stifel Nicolaus reduced their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Hsbc Global Res upgraded Unity Software to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company cut their price target on Unity Software from $22.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Unity Software currently has an average rating of "Hold" and an average price target of $24.21.

Unity Software Stock Up 5.0%

NYSE U traded up $1.04 on Friday, reaching $21.79. 10,349,399 shares of the stock traded hands, compared to its average volume of 10,980,507. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88. The company has a fifty day moving average price of $20.55 and a 200-day moving average price of $22.07. The company has a market cap of $9.06 billion, a price-to-earnings ratio of -12.97 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U - Get Free Report) last announced 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. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same period last year, the firm earned $0.28 earnings per share. Unity Software's revenue was down 5.5% compared to the same quarter last year. As a group, research analysts forecast that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity

In related news, Director David Helgason sold 38,924 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $25.84, for a total value of $1,005,796.16. Following the completion of the transaction, the director now directly owns 7,750,646 shares of the company's stock, valued at approximately $200,276,692.64. This trade represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark Barrysmith sold 1,414 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $21.42, for a total value of $30,287.88. Following the transaction, the chief accounting officer now owns 480,408 shares of the company's stock, valued at approximately $10,290,339.36. The trade was a 0.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 653,006 shares of company stock valued at $14,754,569. Insiders own 6.30% of the company's stock.

Institutional Trading of Unity Software

Institutional investors have recently modified their holdings of the company. SteelPeak Wealth LLC bought a new position in Unity Software in the 4th quarter valued at approximately $221,000. R Squared Ltd purchased a new stake in Unity Software in the 4th quarter worth approximately $30,000. Choreo LLC boosted its holdings in Unity Software by 14.0% in the 4th quarter. Choreo LLC now owns 10,940 shares of the company's stock worth $246,000 after buying an additional 1,344 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Unity Software by 81.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,000 shares of the company's stock worth $90,000 after purchasing an additional 1,800 shares in the last quarter. Finally, V2 Financial group LLC purchased a new position in shares of Unity Software in the fourth quarter worth $225,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.