Unity Software (NYSE:U) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Unity Software (NYSE:U - Free Report) in a research report report published on Thursday,RTT News reports. Wedbush currently has a $27.00 price target on the stock.

U has been the topic of a number of other reports. Macquarie raised their price target on Unity Software from $15.00 to $16.00 and gave the company an "underperform" rating in a report on Friday, November 8th. Jefferies Financial Group raised their price target on Unity Software from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 6th. Morgan Stanley raised their price target on Unity Software from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company began coverage on Unity Software in a report on Monday, October 28th. They set an "equal weight" rating and a $20.00 price target on the stock. 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Unity Software presently has an average rating of "Hold" and an average price target of $22.81.

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Unity Software Stock Performance

Unity Software stock traded up $0.83 during trading on Thursday, reaching $21.57. The company had a trading volume of 9,436,891 shares, compared to its average volume of 6,872,919. Unity Software has a 52 week low of $13.90 and a 52 week high of $35.56. The firm's 50-day simple moving average is $22.61 and its 200 day simple moving average is $20.89. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of -10.57 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.

Insider Activity

In other Unity Software news, CFO Mark Barrysmith sold 1,228 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the sale, the chief financial officer now owns 453,638 shares in the company, valued at $11,086,912.72. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 210,000 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total value of $5,508,300.00. Following the sale, the director now owns 967,650 shares of the company's stock, valued at approximately $25,381,459.50. This represents a 17.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 677,404 shares of company stock valued at $16,572,058. Corporate insiders own 6.30% of the company's stock.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Unity Software by 343.8% during 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 during the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Unity Software during the 4th quarter valued at $28,000. R Squared Ltd purchased a new stake in shares of Unity Software during the 4th quarter valued at $30,000. Principal Securities Inc. increased its position in shares of Unity Software by 50.5% in the 4th 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. Finally, Planning Capital Management Corp acquired a new position in shares of Unity Software in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors 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.