Unity Software (NYSE:U) Shares Gap Up – Time to Buy?

Unity Software Inc. (NYSE:U) gapped up before the market opened on Thursday . The stock had previously closed at $22.47, but opened at $25.18. Unity Software shares last traded at $25.88, with a volume of 12,655,278 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on U. Needham & Company LLC boosted their price objective on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group upped their target price on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Benchmark lifted their price target on shares of Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Macquarie upped their price objective on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.21.

Unity Software Price Performance

The company has a market cap of $10.30 billion, a price-to-earnings ratio of -12.53 and a beta of 2.33. The stock’s 50-day simple moving average is $22.53 and its 200 day simple moving average is $19.50. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In related news, Director Shlomo Dovrat sold 3,750 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.99, for a total transaction of $67,462.50. Following the completion of the sale, the director now directly owns 2,394,935 shares of the company’s stock, valued at $43,084,880.65. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Barrysmith sold 1,228 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 512,669 shares of company stock worth $11,225,869 over the last 90 days. 6.30% of the stock is owned by insiders.

Institutional Trading of Unity Software

Several hedge funds have recently modified their holdings of U. Geode Capital Management LLC increased its holdings in Unity Software by 9.7% in the third quarter. Geode Capital Management LLC now owns 4,685,129 shares of the company’s stock valued at $106,008,000 after buying an additional 413,474 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Unity Software by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,324,694 shares of the company’s stock valued at $37,806,000 after purchasing an additional 200,008 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Unity Software by 100.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Unity Software by 40.6% during the second quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after purchasing an additional 424,806 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in Unity Software by 7.1% in the third quarter. Primecap Management Co. CA now owns 811,994 shares of the company’s stock valued at $18,367,000 after purchasing an additional 53,541 shares during the last quarter. 73.46% of the stock is 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.