Wedbush Reiterates Outperform Rating for Unity Software (NYSE:U)

Wedbush reissued their outperform rating on shares of Unity Software (NYSE:U) in a research report sent to investors on Thursday, Benzinga reports. Wedbush currently has a $33.50 price target on the stock.

A number of other equities research analysts also recently commented on the stock. William Blair reiterated an outperform rating on shares of Unity Software in a report on Tuesday, January 9th. Barclays reduced their price target on Unity Software from $30.00 to $28.00 and set an equal weight rating on the stock in a research note on Tuesday, February 27th. Piper Sandler raised Unity Software from an underweight rating to a neutral rating and lowered their price objective for the company from $35.00 to $30.00 in a research report on Tuesday, February 27th. Needham & Company LLC reduced their target price on Unity Software from $40.00 to $31.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their price target on Unity Software from $29.00 to $32.00 and gave the company a neutral rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $37.03.

Unity Software Stock Up 2.4 %

U opened at $24.74 on Thursday. Unity Software has a one year low of $22.20 and a one year high of $50.08. The company has a market cap of $9.55 billion, a price-to-earnings ratio of -11.45 and a beta of 2.40. The business’s fifty day moving average is $26.08 and its two-hundred day moving average is $30.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.60 and a current ratio of 2.60.

Unity Software (NYSE:U) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.89). The business had revenue of $609.27 million during the quarter, compared to analyst estimates of $551.01 million. Unity Software had a negative net margin of 37.64% and a negative return on equity of 10.14%. Unity Software’s revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. Analysts anticipate that Unity Software will post -0.63 EPS for the current fiscal year.

Insider Activity at Unity Software

In other Unity Software news, insider Marc Whitten sold 7,232 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $32.56, for a total value of $235,473.92. Following the completion of the sale, the insider now owns 989,707 shares of the company’s stock, valued at $32,224,859.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Unity Software news, insider Marc Whitten sold 7,232 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $32.56, for a total value of $235,473.92. Following the completion of the transaction, the insider now directly owns 989,707 shares of the company’s stock, valued at approximately $32,224,859.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Felix The sold 4,374 shares of Unity Software stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $32.55, for a total value of $142,373.70. Following the sale, the senior vice president now directly owns 298,948 shares in the company, valued at $9,730,757.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 338,917 shares of company stock worth $9,460,820. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Unity Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Tradewinds Capital Management LLC grew its position in shares of Unity Software by 245.6% in the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Unity Software during the fourth quarter valued at $27,000. Huntington National Bank raised its holdings in shares of Unity Software by 665.0% during the third quarter. Huntington National Bank now owns 895 shares of the company’s stock worth $28,000 after purchasing an additional 778 shares during the period. GAMMA Investing LLC bought a new position in shares of Unity Software in the 4th quarter worth about $28,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Unity Software by 2,429.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company’s stock valued at $28,000 after buying an additional 996 shares during the period. 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.