Benchmark Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its target price upped by stock analysts at Benchmark from $10.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. Benchmark’s target price indicates a potential downside of 33.21% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $17.00 price objective (down from $25.00) on shares of Unity Software in a research note on Friday, August 9th. Stifel Nicolaus raised their price objective on shares of Unity Software from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Wedbush raised their price objective on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Finally, Needham & Company LLC raised their price objective on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.96.

Unity Software Trading Up 1.1 %

U opened at $22.46 on Friday. Unity Software has a twelve month low of $13.90 and a twelve month high of $43.54. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average of $20.22 and a 200-day moving average of $18.97. The stock has a market cap of $8.91 billion, a PE ratio of -10.96 and a beta of 2.29.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million for the quarter, compared to analyst estimates of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. Unity Software’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) earnings per share. On average, sell-side analysts predict that Unity Software will post -1.86 EPS for the current year.

Insider Buying and Selling

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 owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director David Helgason sold 250,000 shares of Unity Software 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 completion of the transaction, the director now owns 8,201,851 shares in the company, valued at $168,876,112.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Felix The sold 30,000 shares of Unity Software 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 completion of the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 281,600 shares of company stock worth $5,714,000. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of large investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Unity Software by 4.0% during the third quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock valued at $315,000 after purchasing an additional 538 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Unity Software by 31.6% during the first quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after purchasing an additional 562 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Unity Software by 28.7% during the third quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock valued at $89,000 after purchasing an additional 876 shares during the last quarter. GAMMA Investing LLC lifted its position in Unity Software by 343.8% during the third 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. Finally, Intech Investment Management LLC lifted its position in Unity Software by 8.2% during the second quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock valued at $216,000 after purchasing an additional 1,010 shares during the last quarter. 73.46% of the stock is currently 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.