Unity Software (NYSE:U) Trading 9.5% Higher – What’s Next?

Unity Software Inc. (NYSE:U)’s stock price traded up 9.5% during mid-day trading on Monday . The stock traded as high as $27.53 and last traded at $27.5040. 5,431,175 shares were traded during trading, a decline of 63% from the average session volume of 14,782,011 shares. The stock had previously closed at $25.11.

Wall Street Analyst Weigh In

Several research firms have commented on U. Arete Research raised Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, December 1st. Wells Fargo & Company upped their target price on Unity Software from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Barclays lifted their price target on shares of Unity Software from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Wedbush increased their price objective on shares of Unity Software from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Unity Software from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.27.

Unity Software Stock Up 9.5%

The stock has a market capitalization of $11.76 billion, a P/E ratio of -26.18, a P/E/G ratio of 26.32 and a beta of 2.04. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $42.30 and its 200-day moving average is $40.02.

Insider Buying and Selling

In other news, Director David Helgason sold 393,312 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $49.64, for a total transaction of $19,524,007.68. Following the sale, the director owned 5,439,173 shares in the company, valued at approximately $270,000,547.72. This represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jarrod Yahes sold 34,719 shares of Unity Software stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $41.38, for a total value of $1,436,672.22. Following the completion of the transaction, the chief financial officer directly owned 573,871 shares of the company’s stock, valued at $23,746,781.98. This represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,368,021 shares of company stock valued at $64,424,675 in the last ninety days. 3.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Unity Software by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 35,553,296 shares of the company’s stock worth $1,570,389,000 after acquiring an additional 996,685 shares during the last quarter. Slate Path Capital LP raised its position in Unity Software by 25.4% in the 2nd quarter. Slate Path Capital LP now owns 20,016,952 shares of the company’s stock worth $484,410,000 after purchasing an additional 4,048,484 shares during the last quarter. Wellington Management Group LLP raised its position in Unity Software by 58.7% in the 3rd quarter. Wellington Management Group LLP now owns 18,213,875 shares of the company’s stock worth $729,284,000 after purchasing an additional 6,734,285 shares during the last quarter. Norges Bank acquired a new position in Unity Software during the 2nd quarter worth $151,221,000. Finally, Geode Capital Management LLC boosted its position in Unity Software by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,064,703 shares of the company’s stock valued at $122,587,000 after buying an additional 36,105 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.