UBS Group Increases Unity Software (NYSE:U) Price Target to $20.00

Unity Software (NYSE:U - Get Free Report) had its price target increased by UBS Group from $15.00 to $20.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would suggest a potential downside of 9.52% from the stock's current price.

U has been the topic of a number of other reports. Benchmark decreased their price objective on Unity Software from $16.00 to $10.00 and set a "sell" rating on the stock in a research note on Friday, August 9th. Needham & Company LLC reduced their target price on Unity Software from $31.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Stifel Nicolaus boosted their target price on Unity Software from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Morgan Stanley upgraded Unity Software from an "equal weight" rating to an "overweight" rating and set a $22.00 target price for the company in a research report on Tuesday, September 3rd. Finally, Macquarie boosted their target price on Unity Software from $12.00 to $15.00 and gave the stock an "underperform" rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.88.

Unity Software Stock Up 3.9 %

Shares of NYSE:U traded up $0.84 during mid-day trading on Friday, hitting $22.11. 7,024,521 shares of the company traded hands, compared to its average volume of 10,494,921. The stock has a market cap of $8.64 billion, a P/E ratio of -9.87 and a beta of 2.28. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.70. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The stock has a 50-day moving average price of $19.17 and a two-hundred day moving average price of $19.40.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The company had revenue of $449.30 million for the quarter, compared to analysts' expectations of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. Unity Software's quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. On average, equities research analysts forecast that Unity Software will post -1.86 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, SVP Anirma Gupta sold 1,506 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the completion of the transaction, the senior vice president now owns 409,540 shares of the company's stock, valued at approximately $6,851,604.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Anirma Gupta sold 1,506 shares of the company's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $16.73, for a total value of $25,195.38. Following the sale, the senior vice president now owns 409,540 shares in the company, valued at $6,851,604.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 250,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the sale, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 283,106 shares of company stock valued at $5,739,195. Corporate insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in Unity Software in the 1st quarter worth $3,878,000. Magnetar Financial LLC bought a new position in Unity Software in the 2nd quarter worth $2,535,000. Vanguard Group Inc. raised its holdings in Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company's stock worth $703,192,000 after purchasing an additional 208,566 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Unity Software by 187.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company's stock worth $9,440,000 after purchasing an additional 230,696 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Unity Software by 12.9% in the 1st quarter. Principal Financial Group Inc. now owns 26,269 shares of the company's stock worth $701,000 after purchasing an additional 2,999 shares during the period. 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.