Macquarie Initiates Coverage on Unity Software (NYSE:U)

Macquarie assumed coverage on shares of Unity Software (NYSE:U) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $24.00 price objective on the stock.

Several other analysts also recently issued reports on U. Wedbush reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Unity Software in a report on Thursday, February 13th. Wells Fargo & Company cut their price objective on Unity Software from $27.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Friday, February 21st. Morgan Stanley raised their price target on Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC upped their price objective on Unity Software from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.61.

Unity Software Stock Up 2.6 %

Unity Software stock opened at $21.52 on Monday. The stock’s 50 day moving average price is $22.88 and its 200 day moving average price is $21.88. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a market cap of $8.81 billion, a PE ratio of -12.81 and a beta of 2.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. On average, sell-side analysts predict that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the completion of the sale, the director now owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. This represents a 6.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Barrysmith sold 1,228 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 864,537 shares of company stock worth $20,839,722 in the last quarter. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Unity Software

Large investors have recently made changes to their positions in the business. Anderson Financial Strategies LLC purchased a new stake in shares of Unity Software in the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in Unity Software in the 4th quarter worth approximately $30,000. Principal Securities Inc. boosted its holdings in Unity Software by 50.5% in the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock worth $32,000 after acquiring an additional 477 shares during the period. Planning Capital Management Corp acquired a new stake in Unity Software in the third quarter valued at approximately $34,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.