Unity Software (NYSE:U) Rating Increased to Strong-Buy at Citizens Jmp

Unity Software (NYSE:U - Get Free Report) was upgraded by investment analysts at Citizens Jmp from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on U. Hsbc Global Res raised shares of Unity Software to a "strong-buy" rating in a research note on Friday, February 21st. HSBC raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 target price on the stock in a research note on Friday, February 21st. Barclays upped their price target on Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a research report on Friday, February 21st. 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 report on Tuesday, March 11th. Finally, Jefferies Financial Group upped their target price on Unity Software from $23.00 to $28.00 and gave the company a "hold" rating in a report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.61.

Unity Software Price Performance

Shares of Unity Software stock traded up $0.71 on Tuesday, reaching $21.48. The company's stock had a trading volume of 6,550,915 shares, compared to its average volume of 10,562,235. 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 company has a market capitalization of $8.80 billion, a P/E ratio of -12.78 and a beta of 2.27. The stock has a 50-day moving average price of $22.73 and a 200-day moving average price of $21.96. Unity Software has a 52-week low of $13.90 and a 52-week high of $30.88.

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Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The company 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%. Analysts expect that Unity Software will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the sale, the chief accounting officer now directly owns 450,881 shares in the company, valued at $9,775,100.08. This represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tomer Bar-Zeev sold 236,337 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.92, for a total transaction of $5,653,181.04. Following the completion of the transaction, the director now owns 3,161,809 shares of the company's stock, valued at approximately $75,630,471.28. This trade represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 863,309 shares of company stock worth $20,809,710. Insiders own 6.30% of the company's stock.

Institutional Trading of Unity Software

Hedge funds have recently modified their holdings of the stock. Ariose Capital Management Ltd acquired a new stake in Unity Software in the fourth quarter valued at approximately $2,299,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Unity Software by 100.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company's stock valued at $42,662,000 after purchasing an additional 944,709 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Unity Software by 2,665.4% during the 3rd quarter. CIBC Asset Management Inc now owns 342,472 shares of the company's stock worth $7,747,000 after purchasing an additional 330,088 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Unity Software during the third quarter worth $611,000. Finally, Edgestream Partners L.P. increased its holdings in Unity Software by 637.9% in the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company's stock valued at $2,328,000 after buying an additional 88,955 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.