Unity Software (NYSE:U) Upgraded at Wall Street Zen

Unity Software (NYSE:U) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

U has been the subject of a number of other reports. Morgan Stanley dropped their target price on shares of Unity Software from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC dropped their price objective on shares of Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Friday, February 21st. Finally, Wedbush downgraded Unity Software from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.14.

Unity Software Stock Performance

NYSE:U opened at $24.87 on Monday. The firm has a 50 day moving average of $21.41 and a 200-day moving average of $22.43. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a 1 year low of $13.90 and a 1 year high of $30.88. The stock has a market capitalization of $10.34 billion, a P/E ratio of -14.80 and a beta of 2.34.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Activity

In related news, Director David Helgason sold 261,473 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the completion of the sale, the director now directly owns 7,489,173 shares of the company’s stock, valued at approximately $192,471,746.10. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Anirma Gupta sold 46,957 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 $997,366.68. Following the sale, the senior vice president now directly owns 644,952 shares of the company’s stock, valued at approximately $13,698,780.48. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,286,987 shares of company stock valued at $30,302,451 in the last ninety days. 3.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Unity Software

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Unity Software by 5.9% during the first quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock worth $645,775,000 after buying an additional 1,841,486 shares in the last quarter. Capital International Investors grew its stake in shares of Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after acquiring an additional 1,786,032 shares in the last quarter. Norges Bank bought a new position in shares of Unity Software during the 4th quarter worth approximately $269,320,000. Atreides Management LP grew its stake in shares of Unity Software by 146.7% during the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Unity Software by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after acquiring an additional 84,480 shares in the last quarter. 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.