Wall Street Zen upgraded shares of Unity Software (NYSE:U – Free Report) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.
A number of other research analysts have also issued reports on the stock. Raymond James Financial assumed coverage on shares of Unity Software in a report on Monday, June 29th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft raised shares of Unity Software from a “hold” rating to a “buy” rating and raised their price target for the company from $31.00 to $50.00 in a research note on Friday, August 7th. BTIG Research lifted their price target on shares of Unity Software from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citizens Jmp increased their price objective on Unity Software from $37.00 to $45.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, UBS Group reaffirmed an “outperform” rating on shares of Unity Software in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Unity Software presently has an average rating of “Moderate Buy” and a consensus price target of $45.16.
View Our Latest Stock Report on U
Unity Software Trading Down 4.2%
Unity Software (NYSE:U – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, sell-side analysts expect that Unity Software will post 0.55 EPS for the current fiscal year.
Insider Activity
In related news, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total transaction of $46,770.24. Following the sale, the senior vice president owned 308,413 shares in the company, valued at $13,977,277.16. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $43.51, for a total value of $1,895,121.56. Following the sale, the chief operating officer directly owned 661,855 shares of the company’s stock, valued at $28,797,311.05. This represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,547 shares of company stock worth $4,884,202 over the last ninety days. Corporate insiders own 0.77% of the company’s stock.
Hedge Funds Weigh In On Unity Software
Institutional investors and hedge funds have recently modified their holdings of the business. Atreides Management LP acquired a new position in Unity Software during the 2nd quarter worth approximately $292,826,000. Geode Capital Management LLC boosted its holdings in Unity Software by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 5,852,047 shares of the company’s stock worth $258,547,000 after acquiring an additional 328,595 shares in the last quarter. Norges Bank acquired a new stake in Unity Software in the fourth quarter valued at approximately $230,285,000. Resolute Advisors LLC grew its stake in Unity Software by 473.3% in the second quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after acquiring an additional 3,934,840 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Unity Software by 52.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after acquiring an additional 1,465,962 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.
About Unity Software
Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.
The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.
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