Unity Software (NYSE:U) Shares Gap Up – Here’s Why

Unity Software Inc. (NYSE:U)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $22.47, but opened at $25.18. Unity Software shares last traded at $25.88, with a volume of 12,655,278 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on U shares. UBS Group increased their price objective on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Stifel Nicolaus upped their price objective on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Barclays upped their price target on shares of Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Macquarie increased their price objective on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Unity Software currently has an average rating of “Hold” and an average price target of $22.21.

Unity Software Stock Down 1.7 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market capitalization of $9.70 billion, a P/E ratio of -11.81 and a beta of 2.33. The firm’s fifty day moving average price is $22.74 and its 200-day moving average price is $19.61.

Insider Activity

In other news, Director Shlomo Dovrat sold 3,750 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.99, for a total transaction of $67,462.50. Following the completion of the sale, the director now owns 2,394,935 shares in the company, valued at approximately $43,084,880.65. This represents a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Barrysmith sold 1,228 shares of Unity Software stock in a transaction on Monday, December 16th. The stock was sold at an average price of $24.44, for a total value of $30,012.32. Following the completion of the transaction, the chief financial officer now owns 453,638 shares in the company, valued at $11,086,912.72. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 762,669 shares of company stock worth $17,480,869 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in 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 during the period. Planning Capital Management Corp purchased a new position in shares of Unity Software during the third quarter valued at $34,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 buying an additional 1,389 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Unity Software in the 3rd quarter worth about $43,000. Finally, Versant Capital Management Inc boosted its position in Unity Software by 186.9% during the 4th quarter. Versant Capital Management Inc now owns 2,812 shares of the company’s stock worth $63,000 after acquiring an additional 1,832 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.