Unity Software (NYSE:U) Price Target Raised to $15.00 at Macquarie

Unity Software (NYSE:U) had its price objective increased by Macquarie from $12.00 to $15.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an underperform rating on the stock.

U has been the subject of a number of other reports. Wedbush lifted their price target on shares of Unity Software from $21.00 to $27.00 and gave the company an outperform rating in a research report on Monday, September 16th. Morgan Stanley upgraded Unity Software from an equal weight rating to an overweight rating and set a $22.00 target price on the stock in a research report on Tuesday, September 3rd. Benchmark dropped their price target on Unity Software from $16.00 to $10.00 and set a sell rating for the company in a research report on Friday, August 9th. Stifel Nicolaus boosted their price objective on shares of Unity Software from $20.00 to $25.00 and gave the stock a buy rating in a research report on Friday, September 13th. Finally, Piper Sandler restated a neutral rating and set a $17.00 target price (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Unity Software currently has a consensus rating of Hold and a consensus price target of $27.46.

Unity Software Stock Up 2.6 %

Unity Software stock opened at $20.81 on Tuesday. The stock’s 50 day moving average price is $16.87 and its 200 day moving average price is $20.10. The company has a market cap of $8.26 billion, a PE ratio of -9.29 and a beta of 2.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.36 and a quick ratio of 2.36. Unity Software has a 1-year low of $13.90 and a 1-year high of $43.54.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping 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 prior year, the company posted ($0.26) EPS. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, sell-side analysts predict that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Activity

In other news, SVP Anirma Gupta sold 1,506 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director David Helgason sold 250,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at approximately $6,851,604.20. The disclosure for this sale can be found here. Insiders sold a total of 285,472 shares of company stock valued at $5,778,479 over the last quarter. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Unity Software during the 2nd quarter worth approximately $701,000. Capital Impact Advisors LLC acquired a new stake in shares of Unity Software in the second quarter worth $440,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after acquiring an additional 1,389 shares in the last quarter. Creative Planning lifted its holdings in shares of Unity Software by 111.7% during the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock valued at $2,198,000 after acquiring an additional 71,325 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its position in Unity Software by 127.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 330,160 shares of the company’s stock worth $5,368,000 after purchasing an additional 184,922 shares during the period. 73.46% of the stock is owned by institutional investors and hedge funds.

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.