Unity Software (NYSE:U) Rating Increased 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 published on Saturday.

Several other equities research analysts have also recently commented on U. Benchmark raised shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Macquarie began coverage on shares of Unity Software in a report on Monday, March 10th. They set a "neutral" rating and a $24.00 price target for the company. Wedbush downgraded shares of Unity Software from a "strong-buy" rating to a "strong sell" rating in a research note on Wednesday, May 7th. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a research note on Friday, February 21st. Finally, Morgan Stanley reduced 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. 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. According to MarketBeat, Unity Software currently has a consensus rating of "Hold" and a consensus price target of $24.21.

Unity Software Stock Performance

Shares of NYSE:U traded down $0.79 during trading on Friday, hitting $23.75. 13,814,720 shares of the company traded hands, compared to its average volume of 11,079,072. Unity Software has a one year low of $13.90 and a one year high of $30.88. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of -14.14 and a beta of 2.29. The business's fifty day moving average is $20.65 and its 200-day moving average is $22.11. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The company had revenue of $435.00 million during the quarter, compared to analyst estimates of $415.77 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company's revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities analysts predict that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other news, SVP Anirma Gupta sold 46,957 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $997,366.68. Following the completion of the transaction, the senior vice president now owns 644,952 shares of the company's stock, valued at $13,698,780.48. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Helgason sold 38,924 shares of the company'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 $200,276,692.64. This represents a 0.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,048,629 shares of company stock valued at $23,588,040. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in U. Vanguard Group Inc. lifted its stake in Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company's stock valued at $645,775,000 after acquiring an additional 1,841,486 shares in the last quarter. Capital International Investors increased its stake in shares of Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after buying an additional 1,786,032 shares during the period. Norges Bank bought a new stake in Unity Software in the fourth quarter worth $269,320,000. Atreides Management LP lifted its holdings in shares of Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company's stock valued at $184,752,000 after purchasing an additional 5,607,572 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Unity Software by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after acquiring an additional 84,480 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.