Brokerages Set Unity Software Inc. (NYSE:U) Target Price at $23.35

Shares of Unity Software Inc. (NYSE:U) have been given an average recommendation of “Hold” by the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.35.

Several equities analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. UBS Group increased their target price on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Piper Sandler restated a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Wedbush raised their price objective on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, September 16th.

Insider Buying and Selling at Unity Software

In related news, 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 transaction of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Felix The sold 11,719 shares of the business’s stock in a transaction dated 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 $10,047,704.40. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 554,381 shares of company stock worth $10,631,723. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently modified their holdings of the business. Magnetar Financial LLC purchased a new position in shares of Unity Software during the second quarter worth $2,535,000. CIBC Asset Management Inc boosted its holdings in 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 acquiring an additional 330,088 shares during the period. Vanguard Group Inc. grew its position in Unity Software by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock valued at $703,192,000 after acquiring an additional 208,566 shares in the last quarter. LMR Partners LLP purchased a new stake in Unity Software during the 3rd quarter worth approximately $611,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Unity Software by 187.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock valued at $9,440,000 after buying an additional 230,696 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Trading Up 2.0 %

Shares of NYSE:U opened at $24.01 on Thursday. The company has a market capitalization of $9.67 billion, a PE ratio of -11.77 and a beta of 2.29. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The business has a 50 day moving average of $21.06 and a two-hundred day moving average of $18.59. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70.

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.