Unity Software (NYSE:U) Upgraded by Citizens Jmp to Strong-Buy Rating

Citizens Jmp upgraded shares of Unity Software (NYSE:U) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

U has been the subject of a number of other reports. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. HSBC raised Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Friday, February 21st. Macquarie started coverage on Unity Software in a research report on Monday. They issued a “neutral” rating and a $24.00 target price for the company. Finally, Morgan Stanley raised their target price on Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.61.

Unity Software Stock Performance

Shares of U opened at $21.52 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of -12.81 and a beta of 2.27. The stock has a 50 day moving average of $22.88 and a 200 day moving average of $21.88. Unity Software has a 12 month low of $13.90 and a 12 month high of $30.88.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The company had revenue of $457.10 million during the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. As a group, sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In related news, Director Tomer Bar-Zeev sold 236,337 shares of Unity Software stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the completion of the sale, the director now owns 3,161,809 shares of the company’s stock, valued at approximately $75,630,471.28. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Helgason sold 38,924 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $25.84, for a total value of $1,005,796.16. Following the sale, the director now owns 7,750,646 shares in the company, valued at $200,276,692.64. The trade was a 0.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 864,537 shares of company stock valued at $20,839,722 over the last three months. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Anderson Financial Strategies LLC purchased a new position in shares of Unity Software in the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in Unity Software during the 4th quarter valued at about $30,000. Principal Securities Inc. increased its holdings in Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares during the period. Planning Capital Management Corp purchased a new position in Unity Software during the 3rd quarter valued at about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Unity Software during the 4th quarter valued at approximately $36,000. 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.