Unity Software (NYSE:U) Now Covered by Raymond James Financial

Raymond James Financial assumed coverage on shares of Unity Software (NYSE:U) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “market perform” rating on the stock.

U has been the topic of several other research reports. Bank of America lifted their price objective on shares of Unity Software from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, March 27th. UBS Group raised their price target on shares of Unity Software from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Citigroup lowered their price target on shares of Unity Software from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. BTIG Research upped their price objective on Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley increased their price objective on Unity Software from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.71.

Unity Software Stock Performance

Shares of NYSE U traded up $0.48 during mid-day trading on Monday, reaching $28.71. 308,895 shares of the company’s stock were exchanged, compared to its average volume of 14,425,329. The firm has a 50-day moving average price of $27.29 and a two-hundred day moving average price of $29.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of -18.43, a price-to-earnings-growth ratio of 3.61 and a beta of 2.06. Unity Software has a 52 week low of $16.78 and a 52 week high of $52.15.

Insider Activity

In other Unity Software news, CFO Jarrod Yahes sold 24,021 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total value of $652,890.78. Following the sale, the chief financial officer directly owned 704,360 shares in the company, valued at $19,144,504.80. This represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark Barrysmith sold 13,247 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $27.18, for a total transaction of $360,053.46. Following the transaction, the chief accounting officer owned 370,654 shares of the company’s stock, valued at $10,074,375.72. This trade represents a 3.45% 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 90 days, insiders sold 198,321 shares of company stock valued at $5,390,783. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

Several large investors have recently added to or reduced their stakes in U. Wellington Management Group LLP increased its stake 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 acquiring an additional 6,734,285 shares during the last quarter. Norges Bank purchased a new stake in Unity Software in the fourth quarter valued at approximately $230,285,000. Renaissance Technologies LLC bought a new stake in Unity Software during the first quarter valued at approximately $54,534,000. Duquesne Family Office LLC bought a new stake in Unity Software during the second quarter valued at approximately $42,932,000. Finally, Dimensional Fund Advisors LP grew its stake in Unity Software by 52.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock worth $93,089,000 after buying an additional 1,465,962 shares in the last quarter. Institutional investors 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.