Unity Software's (U) "Overweight" Rating Reaffirmed at Piper Sandler

Key Points

• Piper Sandler reaffirmed its “Overweight” rating on Unity Software and raised its price target from $40 to $45, implying 37.2% upside from the prior close.
• Unity shares rose 2.4% to $32.80, while analysts overall maintain a “Moderate Buy” consensus with an average price target of $38.27.
• Insiders sold approximately $5.4 million worth of shares over the past quarter, primarily to cover tax obligations from vested equity awards; institutional investors own 73.46% of the company.

Unity Software (NYSE:U - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Piper Sandler in a research report issued on Thursday,Benzinga reports. They currently have a $45.00 target price on the stock, up from their prior target price of $40.00. Piper Sandler's price objective indicates a potential upside of 37.20% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays increased their price target on Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Unity Software in a research report on Friday, July 17th. Raymond James Financial began coverage on Unity Software in a report on Monday, June 29th. They issued a "market perform" rating on the stock. Wells Fargo & Company upped their price target on shares of Unity Software from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, UBS Group upped their price target on Unity Software from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.27.

Unity Software Trading Up 2.4%

Unity Software stock traded up $0.76 during trading hours on Thursday, hitting $32.80. The stock had a trading volume of 4,390,506 shares, compared to its average volume of 13,310,352. The business's 50 day simple moving average is $28.91 and its 200-day simple moving average is $26.95. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of -20.92, a P/E/G ratio of 3.77 and a beta of 2.05. Unity Software has a one year low of $16.78 and a one year high of $52.15. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.56.

Insiders Place Their Bets

In related news, COO Alexander Blum sold 19,009 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $516,664.62. Following the completion of the sale, the chief operating officer owned 730,069 shares of the company's stock, valued at approximately $19,843,275.42. The trade was a 2.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the completion of the transaction, the chief accounting officer directly owned 370,654 shares in the company, valued at $10,074,375.72. This represents a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 198,321 shares of company stock worth $5,390,783. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of U. REAP Financial Group LLC purchased a new stake in shares of Unity Software during the 4th quarter valued at approximately $28,000. Larson Financial Group LLC raised its holdings in Unity Software by 88.1% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company's stock valued at $29,000 after buying an additional 341 shares during the period. V Square Quantitative Management LLC purchased a new position in Unity Software during the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Unity Software in the 3rd quarter valued at approximately $33,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Unity Software during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 73.46% of the company's stock.

More Unity Software News

Here are the key news stories impacting Unity Software this week:

• Positive Sentiment: Earnings expectations are supportive. Zacks says Unity has factors that could increase the likelihood of an earnings beat, including favorable earnings-estimate revisions and a positive Earnings ESP setup. The company is expected to report quarterly results Thursday, making the report a near-term catalyst. Unity Software Inc. Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Technical indicators have improved. Unity recently moved above its 20-day, 50-day and 200-day moving averages. In particular, the break above the 200-day average is being interpreted as a potential long-term bullish signal, suggesting stronger investor demand and improved chart momentum. Unity Software Inc. Just Overtook the 200-Day Moving Average
• Positive Sentiment: Analyst-screen momentum is favorable. Unity was included in Zacks’ Rank #1 (Strong Buy) growth-stock list for July 29, adding to the positive sentiment surrounding its earnings outlook and growth prospects. Best Growth Stocks to Buy for July 29th
• Neutral Sentiment: Investor attention is elevated, but not necessarily a new fundamental catalyst. Unity has become one of the most-followed stocks on Zacks, prompting renewed buy-or-sell analysis. The increased visibility may support trading activity, although the articles do not provide new operating results or guidance. Is Trending Stock Unity Software Inc. a Buy Now?

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity's technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company's core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.