Unity Software (NYSE:U) Stock Price Up 7.2% - Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on U shares. Oppenheimer restated a "market perform" rating on shares of Unity Software in a research report on Friday, October 18th. Morgan Stanley boosted their price target on shares of Unity Software from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company assumed coverage on shares of Unity Software in a report on Monday, October 28th. They set an "equal weight" rating and a $20.00 price objective on the stock. UBS Group boosted their target price on shares of Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Barclays raised their target price on Unity Software from $16.00 to $18.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.81.

Unity Software Price Performance

The stock's 50 day moving average is $23.57 and its two-hundred day moving average is $20.46. 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 capitalization of $8.93 billion, a PE ratio of -10.87 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $446.52 million during the quarter, compared to analysts' expectations of $428.01 million. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. During the same period in the prior year, the firm posted ($0.12) EPS. As a group, sell-side analysts forecast that Unity Software Inc. will post -1.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, CFO Mark Barrysmith sold 1,228 shares of Unity Software stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $24.44, for a total value of $30,012.32. Following the transaction, the chief financial officer now directly owns 453,638 shares in the company, valued at approximately $11,086,912.72. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Felix The sold 11,719 shares of Unity Software stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.39, for a total transaction of $285,826.41. Following the completion of the transaction, the senior vice president now owns 411,960 shares in the company, valued at approximately $10,047,704.40. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 764,487 shares of company stock worth $17,521,180. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company's stock valued at $28,000 after purchasing an additional 949 shares in the last quarter. R Squared Ltd acquired a new stake in Unity Software in the fourth quarter valued at $30,000. Principal Securities Inc. raised its stake in shares of Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after buying an additional 477 shares during the last quarter. Planning Capital Management Corp purchased a new stake in shares of Unity Software in the 3rd quarter worth about $34,000. Finally, Brooklyn Investment Group acquired a new stake in Unity Software in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 73.46% of the company's stock.

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.