Unity Software (NYSE:U) Price Target Raised to $33.00

Unity Software (NYSE:U - Free Report) had its price objective lifted by Needham & Company LLC from $26.00 to $33.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

U has been the subject of several other reports. Wedbush restated an "outperform" rating and set a $27.00 price target on shares of Unity Software in a research note on Thursday, February 13th. Wells Fargo & Company started coverage on Unity Software in a report on Monday, October 28th. They set an "equal weight" rating and a $20.00 target price for the company. JMP Securities reaffirmed a "market perform" rating on shares of Unity Software in a research report on Monday, February 3rd. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research note on Friday. Finally, Morgan Stanley raised their target price on shares of Unity Software from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $25.96.

Unity Software Trading Down 5.9 %

NYSE:U traded down $1.61 during mid-day trading on Friday, reaching $25.67. The company's stock had a trading volume of 28,335,608 shares, compared to its average volume of 12,676,597. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $10.34 billion, a P/E ratio of -15.28 and a beta of 2.32. The company's fifty day simple moving average is $22.58 and its two-hundred day simple moving average is $21.27. Unity Software has a twelve month low of $13.90 and a twelve month high of $33.43.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (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 the consensus estimate 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, equities analysts predict that Unity Software will post -1.25 EPS for the current year.

Insider Transactions at Unity Software

In other news, SVP Felix The sold 20,000 shares of Unity Software stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares of the company's stock, valued at approximately $10,751,462.80. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 210,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total transaction of $5,508,300.00. Following the sale, the director now owns 967,650 shares in the company, valued at approximately $25,381,459.50. This trade represents a 17.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 742,766 shares of company stock valued at $18,248,777. Insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Unity Software

Institutional investors have recently made changes to their positions in the stock. Anderson Financial Strategies LLC acquired a new position in Unity Software during the 4th quarter valued at approximately $28,000. R Squared Ltd bought a new stake in Unity Software in the fourth quarter valued at $30,000. Principal Securities Inc. boosted its holdings in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock valued at $32,000 after acquiring an additional 477 shares during the period. Planning Capital Management Corp bought a new position in shares of Unity Software during the third quarter worth about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Unity Software in the 4th quarter worth about $36,000. 73.46% of the stock is owned by 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.