Unity Software (NYSE:U) Price Target Raised to $32.00

Unity Software (NYSE:U) had its price objective upped by UBS Group from $28.00 to $32.00 in a research note published on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on U. Raymond James Financial assumed coverage on Unity Software in a research report on Monday, June 29th. They set a “market perform” rating on the stock. Citigroup cut their price objective on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Zacks Research upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Barclays raised their target price 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. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Unity Software in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Unity Software presently has an average rating of “Moderate Buy” and an average price target of $38.49.

Unity Software Price Performance

Shares of NYSE:U opened at $35.36 on Monday. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of -22.52, a PEG ratio of 4.17 and a beta of 2.04. The stock’s 50 day moving average price is $29.67 and its 200 day moving average price is $26.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Activity at Unity Software

In other news, COO Alexander Blum sold 2,099 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $27.37, for a total transaction of $57,449.63. Following the sale, the chief operating officer owned 727,970 shares in the company, valued at $19,924,538.90. The trade was a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Rebecca Berenice Boyden sold 952 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.20, for a total transaction of $25,894.40. Following the completion of the sale, the senior vice president owned 309,445 shares of the company’s stock, valued at approximately $8,416,904. This trade represents a 0.31% decrease in their position. 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. In the last ninety days, insiders sold 198,321 shares of company stock valued at $5,390,783. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Unity Software during the fourth quarter valued at $30,000. Larson Financial Group LLC grew its holdings in shares of Unity Software by 88.1% during the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Unity Software during the fourth quarter valued at $36,000. Finally, IFP Advisors Inc acquired a new position in Unity Software during the third quarter valued at $33,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.