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

Unity Software (NYSE:U - Get Free Report) had its price target raised by stock analysts at Wedbush from $21.00 to $27.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's target price suggests a potential upside of 33.00% from the company's previous close.

Several other research analysts have also issued reports on the company. JMP Securities reiterated a "market perform" rating on shares of Unity Software in a report on Friday. The Goldman Sachs Group cut their price target on Unity Software from $26.00 to $22.50 and set a "neutral" rating for the company in a research note on Friday, August 9th. Morgan Stanley upgraded Unity Software from an "equal weight" rating to an "overweight" rating and set a $22.00 target price on the stock in a report on Tuesday, September 3rd. Macquarie dropped their price target on shares of Unity Software from $14.00 to $12.00 and set an "underperform" rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler reiterated a "neutral" rating and set a $17.00 price target (down from $25.00) on shares of Unity Software in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.25.

Unity Software Trading Up 2.0 %

Shares of NYSE U traded up $0.39 during midday trading on Monday, reaching $20.30. The stock had a trading volume of 22,484,771 shares, compared to its average volume of 10,240,744. The company's 50 day moving average price is $16.53 and its 200 day moving average price is $20.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.36 and a current ratio of 2.36. Unity Software has a twelve month low of $13.90 and a twelve month high of $43.54. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -9.06 and a beta of 2.25.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm had revenue of $449.30 million during the quarter, compared to analyst estimates of $438.37 million. During the same period last year, the company posted ($0.26) EPS. The business's quarterly revenue was down 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Unity Software will post -1.86 EPS for the current year.

Insider Activity

In related news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the transaction, the director now directly owns 8,201,851 shares of the company's stock, valued at $168,876,112.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director David Helgason sold 250,000 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Felix The sold 30,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the sale, the senior vice president now owns 423,679 shares of the company's stock, valued at approximately $7,579,617.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 285,472 shares of company stock valued at $5,775,071. Insiders own 6.30% of the company's stock.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tradewinds Capital Management LLC boosted its holdings in shares of Unity Software by 245.6% during the 1st quarter. Tradewinds Capital Management LLC now owns 985 shares of the company's stock valued at $26,000 after buying an additional 700 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Unity Software by 2,429.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,037 shares of the company's stock worth $28,000 after acquiring an additional 996 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Unity Software by 163.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company's stock worth $36,000 after purchasing an additional 1,389 shares during the period. Principal Securities Inc. bought a new position in shares of Unity Software during the fourth quarter valued at approximately $37,000. Finally, Tidemark LLC bought a new position in shares of Unity Software during the fourth quarter valued at approximately $39,000. 73.46% of the stock is currently 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.