Unity Software (NYSE:U) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Unity Software (NYSE:U) from a hold rating to a buy rating in a research note issued to investors on Monday morning,Wall Street Zen reports.

U has been the topic of several other research reports. Benchmark upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, August 7th. Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $50.00 in a report on Friday, August 7th. HSBC upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price target for the company in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised Unity Software from a “hold” rating to a “buy” rating and raised their price target for the company from $31.00 to $50.00 in a research report on Friday, August 7th. Finally, Oppenheimer reissued an “outperform” rating on shares of Unity Software in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.91.

Unity Software Trading Down 0.4%

NYSE:U opened at $46.69 on Monday. Unity Software has a 12 month low of $16.78 and a 12 month high of $52.15. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of -34.33, a P/E/G ratio of 2.05 and a beta of 2.11. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $43.23 and its 200-day moving average is $32.82.

Unity Software (NYSE:U) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The business had revenue of $546.47 million during the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. Unity Software’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. Equities analysts anticipate that Unity Software will post 0.55 EPS for the current year.

Insider Buying and Selling

In other Unity Software news, SVP Rebecca Boyden sold 1,032 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the sale, the senior vice president directly owned 308,413 shares in the company, valued at $13,977,277.16. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew Bromberg sold 16,383 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the transaction, the chief executive officer owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 109,547 shares of company stock valued at $4,884,202. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in the company. Riversedge Advisors LLC bought a new position in Unity Software in the 3rd quarter worth approximately $331,000. Wedmont Private Capital lifted its holdings in Unity Software by 20.8% during the 3rd quarter. Wedmont Private Capital now owns 21,954 shares of the company’s stock worth $899,000 after buying an additional 3,775 shares in the last quarter. GAMMA Investing LLC boosted its position in Unity Software by 31.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,789 shares of the company’s stock valued at $319,000 after buying an additional 1,879 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Unity Software by 7.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,987 shares of the company’s stock valued at $450,000 after buying an additional 780 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC bought a new position in Unity Software in the 3rd quarter valued at $1,334,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

About Unity Software

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.