Unity Software (NYSE:U) Shares Gap Up to $28.74

Unity Software Inc. (NYSE:U – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $28.74, but opened at $29.73. Unity Software shares last traded at $28.62, with a volume of 1,288,087 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on U shares. The Goldman Sachs Group lifted their price target on Unity Software from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 15th. Needham & Company LLC lifted their price target on Unity Software from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Credit Suisse Group decreased their target price on Unity Software from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 23rd. DA Davidson lifted their target price on Unity Software from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Finally, Piper Sandler lifted their target price on Unity Software from $33.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.79.

Unity Software Price Performance

The company has a market cap of $8.52 billion, a P/E ratio of -9.60 and a beta of 2.17. The company has a fifty day simple moving average of $33.31 and a 200-day simple moving average of $32.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.34 and a quick ratio of 2.34.

Insiders Place Their Bets

In other Unity Software news, SVP Marc Whitten sold 3,889 shares of Unity Software stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $30.27, for a total transaction of $117,720.03. Following the transaction, the senior vice president now directly owns 677,682 shares in the company, valued at approximately $20,513,434.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Luis Felipe Visoso sold 6,523 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $30.30, for a total transaction of $197,646.90. Following the transaction, the chief financial officer now directly owns 732,215 shares in the company, valued at approximately $22,186,114.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Marc Whitten sold 3,889 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $30.27, for a total transaction of $117,720.03. Following the transaction, the senior vice president now owns 677,682 shares in the company, valued at $20,513,434.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,625 shares of company stock worth $1,322,019. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently modified their holdings of U. Norges Bank acquired a new stake in shares of Unity Software in the 4th quarter valued at $157,766,000. Clearbridge Investments LLC lifted its stake in shares of Unity Software by 2,365.2% in the 1st quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock valued at $438,545,000 after purchasing an additional 4,241,060 shares during the last quarter. Vanguard Group Inc. lifted its position in Unity Software by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock worth $1,714,261,000 after acquiring an additional 2,531,507 shares during the last quarter. ARK Investment Management LLC lifted its position in Unity Software by 22.7% during the 3rd quarter. ARK Investment Management LLC now owns 11,263,159 shares of the company’s stock worth $358,844,000 after acquiring an additional 2,087,448 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Unity Software by 5,564.1% during the 4th quarter. Neuberger Berman Group LLC now owns 2,105,797 shares of the company’s stock worth $60,205,000 after acquiring an additional 2,068,619 shares during the last quarter. Institutional investors and hedge funds own 82.50% of the company’s stock.

Unity Software Company Profile

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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.