Unity Software (NYSE:U) Upgraded to “Strong-Buy” at Freedom Capital

Freedom Capital upgraded shares of Unity Software (NYSE:U) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

U has been the topic of several other research reports. Wall Street Zen upgraded Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Hsbc Global Res downgraded shares of Unity Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. BTIG Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Unity Software in a report on Wednesday, October 8th. Finally, UBS Group raised their target price on shares of Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Unity Software Stock Down 6.9%

U opened at $40.96 on Thursday. The stock’s fifty day simple moving average is $43.73 and its 200 day simple moving average is $39.38. Unity Software has a 1-year low of $15.33 and a 1-year high of $52.15. The stock has a market cap of $17.53 billion, a PE ratio of -39.01, a price-to-earnings-growth ratio of 46.10 and a beta of 2.04. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $470.62 million for the quarter, compared to the consensus estimate of $452.87 million. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.31) earnings per share. As a group, research analysts expect that Unity Software will post -1.25 earnings per share for the current year.

Insider Buying and Selling at Unity Software

In other news, COO Alexander Blum sold 1,988 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $42.47, for a total value of $84,430.36. Following the completion of the transaction, the chief operating officer owned 561,130 shares of the company’s stock, valued at approximately $23,831,191.10. This represents a 0.35% 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. Also, Director David Helgason sold 8,347 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $49.16, for a total transaction of $410,338.52. Following the completion of the sale, the director owned 7,635 shares in the company, valued at approximately $375,336.60. The trade was a 52.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,647,935 shares of company stock worth $75,174,498 over the last quarter. 3.61% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

A number of hedge funds have recently added to or reduced their stakes in the stock. CX Institutional bought a new position in shares of Unity Software in the 2nd quarter valued at $25,000. Root Financial Partners LLC bought a new position in Unity Software in the third quarter valued at about $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of Unity Software during the second quarter worth about $28,000. Larson Financial Group LLC increased its stake in shares of Unity Software by 88.1% in 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 during the period. Finally, IFP Advisors Inc bought a new position in Unity Software in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.