Barclays Raises Unity Software (NYSE:U) Price Target to $18.00

Unity Software (NYSE:U) had its price target increased by Barclays from $16.00 to $18.00 in a research note released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

U has been the topic of a number of other reports. Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Tuesday, September 3rd. Macquarie boosted their target price on shares of Unity Software from $12.00 to $15.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group decreased their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. UBS Group boosted their price objective on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Piper Sandler reissued a “neutral” rating and issued a $17.00 target price (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.35.

Unity Software Stock Down 7.7 %

U stock traded down $1.71 during midday trading on Friday, reaching $20.50. 24,571,434 shares of the company were exchanged, compared to its average volume of 10,404,142. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. Unity Software has a 1-year low of $13.90 and a 1-year high of $43.54. The stock’s 50-day simple moving average is $20.42 and its 200 day simple moving average is $18.97. The company has a market cap of $8.14 billion, a price-to-earnings ratio of -10.00 and a beta of 2.29.

Unity Software (NYSE:U) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business had revenue of $449.30 million for the quarter, compared to analysts’ expectations of $438.37 million. During the same period in the previous year, the company posted ($0.26) EPS. The company’s quarterly revenue was down 15.8% on a year-over-year basis. On average, equities analysts forecast that Unity Software will post -1.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the transaction, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now directly owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 281,600 shares of company stock valued at $5,714,000 over the last 90 days. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 949 shares during the last quarter. Planning Capital Management Corp acquired a new position in shares of Unity Software during the third quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Unity Software by 163.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares during the period. Advisors Asset Management Inc. increased its position in shares of Unity Software by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Unity Software during the first quarter valued at approximately $65,000. Hedge funds and other institutional investors 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.