Unity Software Inc. (NYSE:U) Receives $34.79 Consensus Target Price from Brokerages

Unity Software Inc. (NYSE:U) has been given an average recommendation of “Hold” by the twenty-two brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $33.47.

Several research analysts have commented on the company. Benchmark reaffirmed a “sell” rating and set a $16.00 price target on shares of Unity Software in a research report on Friday, May 10th. Barclays cut their price target on Unity Software from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Unity Software in a research report on Friday, May 10th. Finally, The Goldman Sachs Group cut their price target on Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th.

Insiders Place Their Bets

In other Unity Software news, Chairman James M. Whitehurst sold 49,854 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $19.10, for a total transaction of $952,211.40. Following the sale, the chairman now directly owns 313,266 shares in the company, valued at $5,983,380.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CMO Carol W. Carpenter sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.58, for a total value of $53,160.00. Following the sale, the chief marketing officer now directly owns 444,617 shares in the company, valued at $11,817,919.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James M. Whitehurst sold 49,854 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $19.10, for a total value of $952,211.40. Following the completion of the sale, the chairman now owns 313,266 shares in the company, valued at $5,983,380.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 247,736 shares of company stock worth $4,885,280. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Unity Software by 50.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,585 shares of the company’s stock worth $175,000 after acquiring an additional 1,868 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Unity Software by 19.0% in the 3rd quarter. Nordea Investment Management AB now owns 16,384 shares of the company’s stock valued at $519,000 after purchasing an additional 2,615 shares during the last quarter. LPL Financial LLC grew its stake in shares of Unity Software by 19.9% during the 3rd quarter. LPL Financial LLC now owns 182,127 shares of the company’s stock valued at $5,710,000 after buying an additional 30,223 shares during the period. Mariner LLC increased its holdings in shares of Unity Software by 20.7% during the 3rd quarter. Mariner LLC now owns 36,496 shares of the company’s stock worth $1,146,000 after buying an additional 6,248 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Unity Software by 4.0% in the 3rd quarter. Stifel Financial Corp now owns 246,510 shares of the company’s stock worth $7,738,000 after buying an additional 9,583 shares during the period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Price Performance

U stock opened at $16.23 on Monday. The business has a 50 day moving average price of $20.10 and a 200 day moving average price of $27.69. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of -7.25 and a beta of 2.28. Unity Software has a fifty-two week low of $15.23 and a fifty-two week high of $50.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last posted its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.13. The firm had revenue of $460.38 million during the quarter, compared to analysts’ expectations of $422.53 million. Unity Software had a negative return on equity of 7.73% and a negative net margin of 40.11%. Equities research analysts anticipate that Unity Software will post -1.81 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.