Unity Software (NYSE:U) Shares Gap Up – Should You Buy?

Unity Software Inc. (NYSE:U)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $19.44, but opened at $20.63. Unity Software shares last traded at $20.01, with a volume of 2,877,309 shares.

Wall Street Analyst Weigh In

U has been the subject of several analyst reports. Benchmark lifted their price objective on shares of Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on shares of Unity Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Barclays increased their price target on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Wells Fargo & Company assumed coverage on Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 price objective on the stock. Finally, Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Unity Software presently has a consensus rating of “Hold” and a consensus price target of $22.81.

Unity Software Stock Performance

The stock has a fifty day simple moving average of $22.99 and a two-hundred day simple moving average of $20.74. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of -9.96 and a beta of 2.32.

Insider Activity at Unity Software

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $17.52, for a total value of $4,380,000.00. Following the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 20,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the completion of the sale, the senior vice president now owns 391,960 shares in the company, 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 931,154 shares of company stock worth $21,019,520 in the last quarter. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock worth $37,000 after acquiring an additional 411 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Unity Software by 50.5% during the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Unity Software by 3.5% during the fourth quarter. Farther Finance Advisors LLC now owns 14,435 shares of the company’s stock valued at $324,000 after purchasing an additional 488 shares in the last quarter. Tidal Investments LLC boosted its holdings in Unity Software by 4.9% during the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock worth $349,000 after purchasing an additional 723 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Unity Software by 28.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock worth $89,000 after purchasing an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.