Unity Software (NYSE:U) Given New $26.00 Price Target at Needham & Company LLC

Unity Software (NYSE:U) had its price target upped by Needham & Company LLC from $23.00 to $26.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler restated a “neutral” rating and issued a $17.00 price objective (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Morgan Stanley raised Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Tuesday, September 3rd. The Goldman Sachs Group cut their price target on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Benchmark lowered their price objective on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and an average price target of $23.35.

Unity Software Stock Down 7.7 %

Shares of NYSE U traded down $1.71 during mid-day trading on Friday, reaching $20.50. The company had a trading volume of 24,571,434 shares, compared to its average volume of 10,404,142. The stock has a fifty day moving average of $20.42 and a two-hundred day moving average of $18.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of -10.00 and a beta of 2.29. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The firm had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. As a group, equities research analysts expect that Unity Software will post -1.86 EPS for the current year.

Insider Activity

In related news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Unity Software news, SVP Felix The sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the transaction, the senior vice president now directly owns 423,679 shares in the company, valued at $7,579,617.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Helgason sold 250,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 281,600 shares of company stock worth $5,714,000 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock worth $28,000 after purchasing an additional 949 shares in the last quarter. Planning Capital Management Corp purchased a new position in shares of Unity Software in the 3rd quarter worth $34,000. Northwestern Mutual Wealth Management Co. lifted its position in Unity Software by 163.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock valued at $36,000 after purchasing an additional 1,389 shares in the last quarter. Blue Trust Inc. lifted its position in Unity Software by 308.8% during the second quarter. Blue Trust Inc. now owns 3,123 shares of the company’s stock valued at $51,000 after purchasing an additional 2,359 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Unity Software by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares in the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.