Unity Software Inc. (NYSE:U) Given Consensus Recommendation of "Moderate Buy" by Analysts

Unity Software Inc. (NYSE:U - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $25.61.

Several analysts have issued reports on the company. Citigroup upgraded Unity Software from a "neutral" rating to a "buy" rating and set a $30.00 price objective on the stock in a research note on Tuesday, March 11th. UBS Group raised their price target on Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Citizens Jmp upgraded shares of Unity Software from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective on the stock in a research report on Friday, February 21st. Finally, Wells Fargo & Company reduced their target price on shares of Unity Software from $27.00 to $22.00 and set an "equal weight" rating for the company in a report on Monday, March 10th.

Unity Software Stock Down 4.9 %

Shares of NYSE U traded down $1.06 during trading hours on Wednesday, hitting $20.52. The company had a trading volume of 11,054,843 shares, compared to its average volume of 10,695,166. Unity Software has a 1-year low of $13.90 and a 1-year high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm's 50 day moving average is $22.58 and its 200-day moving average is $22.28. The stock has a market capitalization of $8.41 billion, a P/E ratio of -12.21 and a beta of 2.27.

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Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million during the quarter, compared to analysts' expectations of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software 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 sale, the director now directly owns 3,648,146 shares of the company's stock, valued at approximately $91,276,612.92. The trade was a 6.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark Barrysmith sold 1,445 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $20.61, for a total transaction of $29,781.45. Following the completion of the transaction, the chief accounting officer now directly owns 483,417 shares of the company's stock, valued at approximately $9,963,224.37. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 865,236 shares of company stock worth $20,849,425. 6.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Unity Software in the fourth quarter valued at approximately $269,320,000. Slate Path Capital LP bought a new stake in Unity Software during the 4th quarter worth approximately $62,387,000. Capital International Investors increased its position in Unity Software by 10.4% in the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after acquiring an additional 1,786,032 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Unity Software by 3,843.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock valued at $39,771,000 after acquiring an additional 1,725,070 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Unity Software by 366.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock worth $43,505,000 after purchasing an additional 1,521,165 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.