Unity Software Inc. (NYSE:U – Get Free Report)’s share price shot up 9.1% on Wednesday . The company traded as high as $31.00 and last traded at $31.17. Approximately 2,699,511 shares were traded during mid-day trading, a decline of 81% from the average session volume of 14,293,364 shares. The stock had previously closed at $28.58.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Unity Software from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen cut Unity Software from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. UBS Group upped their price objective on Unity Software from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Bank of America raised their price objective on Unity Software from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $37.00 target price on shares of Unity Software in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Unity Software has an average rating of “Moderate Buy” and a consensus target price of $37.71.
Check Out Our Latest Analysis on Unity Software
Unity Software Stock Up 6.9%
Insiders Place Their Bets
In other Unity Software news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $652,890.78. Following the completion of the sale, the chief financial officer directly owned 704,360 shares in the company, valued at approximately $19,144,504.80. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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, COO Alexander Blum sold 2,099 shares of Unity Software stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $27.37, for a total transaction of $57,449.63. Following the completion of the sale, the chief operating officer owned 727,970 shares of the company’s stock, valued at $19,924,538.90. This trade represents a 0.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 worth $5,390,783. Insiders own 0.77% of the company’s stock.
Hedge Funds Weigh In On Unity Software
A number of institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. lifted its stake in shares of Unity Software by 12.9% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 2,696 shares of the company’s stock valued at $108,000 after purchasing an additional 308 shares during the period. Xponance Inc. grew its position in Unity Software by 1.8% during the third quarter. Xponance Inc. now owns 18,291 shares of the company’s stock valued at $732,000 after buying an additional 328 shares during the period. Larson Financial Group LLC grew its position in 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 during the period. Swiss Life Asset Management Ltd increased its holdings in Unity Software by 3.1% in the fourth quarter. Swiss Life Asset Management Ltd now owns 14,861 shares of the company’s stock valued at $656,000 after buying an additional 449 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Unity Software by 2.1% in the second quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after acquiring an additional 462 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.
About Unity Software
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.
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