Unity Software (NYSE:U) Price Target Raised to $27.00

Unity Software (NYSE:U) had its price target raised by Wells Fargo & Company from $20.00 to $27.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. Benchmark raised Unity Software from a “sell” rating to a “hold” rating in a research report on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Barclays increased their target price on shares of Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Unity Software in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.96.

Unity Software Stock Performance

U opened at $28.31 on Friday. Unity Software has a 1-year low of $13.90 and a 1-year high of $33.43. The company’s fifty day moving average price is $22.53 and its two-hundred day moving average price is $21.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software (NYSE:U) last posted its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. As a group, equities research analysts expect that Unity Software will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 83,333 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $25.44, for a total transaction of $2,119,991.52. Following the completion of the transaction, the director now owns 3,398,146 shares in the company, valued at $86,448,834.24. This trade represents a 2.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark Barrysmith sold 1,395 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the completion of the sale, the chief accounting officer now directly owns 450,881 shares in the company, valued at approximately $9,775,100.08. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 762,597 shares of company stock valued at $18,732,374 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Unity Software during the 4th quarter worth about $269,320,000. Slate Path Capital LP bought a new stake in shares of Unity Software during the fourth quarter valued at about $62,387,000. Capital International Investors lifted its holdings in shares of Unity Software by 10.4% in the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after buying an additional 1,786,032 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Unity Software by 3,843.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after acquiring an additional 1,725,070 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Unity Software by 366.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock valued at $43,505,000 after acquiring an additional 1,521,165 shares in the last quarter. 73.46% of the stock is owned by 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.