Unity Software (NYSE:U) Price Target Raised to $15.00 at Benchmark

Unity Software (NYSE:U) had its target price raised by Benchmark from $10.00 to $15.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a sell rating on the stock.

A number of other research analysts also recently issued reports on U. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. UBS Group boosted their target price on Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 target price (down from $25.00) on shares of Unity Software in a research report on Friday, August 9th. The Goldman Sachs Group decreased their target price on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company assumed coverage on Unity Software in a research report on Monday, October 28th. They issued an “equal weight” rating and a $20.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.35.

Unity Software Trading Down 7.7 %

U traded down $1.71 during midday trading on Friday, hitting $20.50. 24,571,434 shares of the company were exchanged, compared to its average volume of 10,404,142. The firm has a market capitalization of $8.14 billion, a P/E ratio of -10.00 and a beta of 2.29. Unity Software has a 1-year low of $13.90 and a 1-year high of $43.54. The firm’s 50 day moving average price is $20.42 and its 200-day moving average price is $18.97. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. The company had revenue of $449.30 million for the quarter, compared to the consensus estimate of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm’s revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.26) EPS. As a group, equities analysts forecast that Unity Software will post -1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Unity Software news, Director David Helgason sold 250,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Unity Software news, SVP Felix The sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $17.89, for a total transaction of $536,700.00. Following the sale, the senior vice president now owns 423,679 shares in the company, valued at $7,579,617.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 281,600 shares of company stock worth $5,714,000 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Several large investors have recently bought and sold shares of U. Primecap Management Co. CA lifted its position 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 in the last quarter. LMR Partners LLP bought a new position in shares of Unity Software during the 3rd quarter valued at about $611,000. CIBC Asset Management Inc boosted its holdings 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 valued at $7,747,000 after purchasing an additional 330,088 shares during the last quarter. Planning Capital Management Corp bought a new position in shares of Unity Software during the 3rd quarter valued at about $34,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Unity Software in the 3rd quarter valued at about $5,022,000. 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.