Morgan Stanley Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its target price increased by stock analysts at Morgan Stanley from $26.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 12.96% from the stock’s previous close.

A number of other research firms also recently commented on U. Barclays increased their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday. Jefferies Financial Group raised their target price on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Friday. Benchmark upgraded shares of Unity Software from a “sell” rating to a “hold” rating in a research note on Thursday. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday. Finally, Wells Fargo & Company raised their target price on shares of Unity Software from $20.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Unity Software currently has an average rating of “Hold” and a consensus target price of $25.96.

Unity Software Stock Up 1.2 %

U stock traded up $0.33 during trading hours on Friday, reaching $28.33. 29,187,512 shares of the stock were exchanged, compared to its average volume of 11,400,793. The firm’s 50-day moving average is $22.45 and its 200-day moving average is $20.99. Unity Software has a 12 month low of $13.90 and a 12 month high of $33.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market cap of $11.41 billion, a price-to-earnings ratio of -13.89 and a beta of 2.32.

Unity Software (NYSE:U) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. On average, equities research analysts expect that Unity Software will post -1.72 earnings per share for the current year.

Insider Transactions at Unity Software

In related news, Director Tomer Bar-Zeev sold 166,667 shares of Unity Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total value of $3,498,340.33. Following the transaction, the director now directly owns 3,481,479 shares of the company’s stock, valued at $73,076,244.21. This trade represents a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Felix The sold 11,719 shares of Unity Software stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.39, for a total transaction of $285,826.41. Following the completion of the transaction, the senior vice president now directly owns 411,960 shares in the company, valued at $10,047,704.40. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 679,264 shares of company stock valued at $16,612,383. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its holdings in shares of Unity Software by 13.7% during the third quarter. Creative Planning now owns 153,742 shares of the company’s stock worth $3,478,000 after purchasing an additional 18,547 shares during the period. Blue Trust Inc. increased its stake in Unity Software by 54.0% in the third quarter. Blue Trust Inc. now owns 4,810 shares of the company’s stock valued at $109,000 after purchasing an additional 1,687 shares in the last quarter. Signaturefd LLC increased its position in shares of Unity Software by 106.1% during the third quarter. Signaturefd LLC now owns 4,081 shares of the company’s stock worth $92,000 after acquiring an additional 2,101 shares in the last quarter. Greenleaf Trust purchased a new position in Unity Software during the third quarter worth about $310,000. Finally, International Assets Investment Management LLC boosted its holdings in Unity Software by 1,787.9% during the third quarter. International Assets Investment Management LLC now owns 14,839 shares of the company’s stock worth $336,000 after purchasing an additional 14,053 shares during the last quarter. Institutional investors and hedge funds 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.