Unity Software (NYSE:U) Trading Up 7.2% - Should You Buy?

Unity Software Inc. (NYSE:U - Get Free Report)'s share price was up 7.2% during trading on Tuesday . The company traded as high as $23.21 and last traded at $23.32. Approximately 2,033,450 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 9,554,587 shares. The stock had previously closed at $21.75.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Benchmark boosted their price objective on shares of Unity Software from $10.00 to $15.00 and gave the company a "sell" rating in a research note on Friday, November 8th. Macquarie boosted their price target on shares of Unity Software from $15.00 to $16.00 and gave the company an "underperform" rating in a research report on Friday, November 8th. Wells Fargo & Company assumed coverage on shares of Unity Software in a report on Monday, October 28th. They issued an "equal weight" rating and a $20.00 price target on the stock. Morgan Stanley lifted their price objective on Unity Software from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.81.

Unity Software Trading Down 3.6 %

The stock's fifty day moving average price is $23.55 and its 200 day moving average price is $20.49. The stock has a market cap of $8.93 billion, a P/E ratio of -10.87 and a beta of 2.32. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.08. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. The firm had revenue of $446.52 million during the quarter, compared to analyst estimates of $428.01 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. Equities research analysts expect that Unity Software Inc. will post -1.72 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the transaction, the chief accounting officer now owns 452,276 shares in the company, valued at $9,909,367.16. This trade represents a 0.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $17.52, for a total value of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares in the company, valued at approximately $74,427,517.92. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 764,487 shares of company stock worth $17,521,180 in the last ninety days. Insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of U. Geode Capital Management LLC grew its holdings in Unity Software by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company's stock valued at $106,008,000 after buying an additional 413,474 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Unity Software by 100.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company's stock valued at $42,662,000 after acquiring an additional 944,709 shares in the last quarter. Primecap Management Co. CA increased its holdings in Unity Software by 7.1% in the 3rd quarter. Primecap Management Co. CA now owns 811,994 shares of the company's stock valued at $18,367,000 after acquiring an additional 53,541 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Unity Software in the 3rd quarter worth $12,317,000. Finally, Monolith Management Ltd bought a new position in shares of Unity Software during the 3rd quarter valued at about $10,993,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

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.