Unity Software (NYSE:U) Given New $27.00 Price Target at Wells Fargo & Company

Unity Software (NYSE:U) had its price target increased by Wells Fargo & Company from $20.00 to $27.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 10.93% from the company’s current price.

Several other research analysts also recently weighed in on the company. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Friday. UBS Group upped their price objective on shares of Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Macquarie lifted their target price on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Finally, Jefferies Financial Group raised their price target on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Unity Software currently has an average rating of “Hold” and a consensus price target of $25.54.

Unity Software Price Performance

Unity Software stock opened at $30.31 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of -14.99 and a beta of 2.32. The firm has a 50-day moving average of $22.45 and a two-hundred day moving average of $20.99. Unity Software has a 1 year low of $13.90 and a 1 year high of $33.43.

Unity Software (NYSE:U) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. On average, research analysts forecast that Unity Software will post -1.72 earnings per share for the current year.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the sale, the director now directly owns 3,481,479 shares in the company, valued at $73,076,244.21. This represents a 4.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Felix The sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $27.43, for a total transaction of $548,600.00. Following the completion of the transaction, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at $10,751,462.80. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 679,264 shares of company stock valued at $16,612,383 over the last ninety days. Company 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. Norges Bank purchased a new position in Unity Software in the fourth quarter worth $269,320,000. Slate Path Capital LP purchased a new position in Unity Software in the 4th quarter valued at approximately $62,387,000. Capital International Investors boosted its position in Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after purchasing an additional 1,786,032 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Unity Software by 3,843.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after buying an additional 1,725,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Unity Software by 366.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after buying an additional 1,521,165 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Company Profile

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.