Unity Software (NYSE:U) Price Target Raised to $24.00 at Wells Fargo & Company

Unity Software (NYSE:U - Get Free Report) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $19.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential downside of 16.64% from the company's previous close.

Other equities analysts also recently issued reports about the company. Morgan Stanley cut their target price on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC cut their target price on Unity Software from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen downgraded Unity Software from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Wedbush raised Unity Software to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group raised Unity Software from a "hold" rating to a "buy" rating and upped their target price for the company from $22.00 to $29.00 in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Unity Software presently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

Unity Software Stock Up 3.3%

Shares of U stock traded up $0.93 during trading hours on Monday, reaching $28.79. 11,212,320 shares of the company's stock were exchanged, compared to its average volume of 11,682,889. The stock's 50 day moving average is $23.33 and its 200-day moving average is $22.36. The company has a market cap of $11.97 billion, a price-to-earnings ratio of -25.71 and a beta of 2.29. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.70. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $30.88.

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

Insider Activity at Unity Software

In other Unity Software news, Director James M. Whitehurst sold 72,955 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $1,549,564.20. Following the transaction, the director owned 240,311 shares in the company, valued at approximately $5,104,205.64. This represents a 23.29% 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, CEO Matthew S. Bromberg sold 133,072 shares of the 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 $2,826,449.28. Following the transaction, the chief executive officer owned 1,222,812 shares in the company, valued at $25,972,526.88. This represents a 9.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,944 shares of company stock valued at $28,419,375 in the last ninety days. 3.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its position in Unity Software by 30,300.0% during the first 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 in the last quarter. Anderson Financial Strategies LLC purchased a new position in Unity Software during the fourth quarter worth approximately $28,000. Banque Transatlantique SA purchased a new position in Unity Software during the first quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Unity Software during the fourth quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. lifted 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 buying an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company's stock.

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.