Unity Software (NYSE:U) Given New $18.00 Price Target at Barclays

Unity Software (NYSE:U) had its price target upped by investment analysts at Barclays from $16.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 12.24% from the stock’s previous close.

Several other research firms have also recently issued reports on U. Benchmark lifted their price objective on shares of Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research report on Friday. Morgan Stanley upgraded shares of Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Tuesday, September 3rd. Needham & Company LLC increased their target price on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. Wedbush lifted their price objective on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, UBS Group upped their target price on shares of Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Unity Software currently has a consensus rating of “Hold” and an average price target of $23.27.

Unity Software Price Performance

NYSE:U traded down $1.70 on Friday, reaching $20.51. 18,103,207 shares of the company’s stock traded hands, compared to its average volume of 10,374,508. The stock has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $18.99. Unity Software has a 12 month low of $13.90 and a 12 month high of $43.54. The firm has a market cap of $8.14 billion, a PE ratio of -9.94 and a beta of 2.29. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.12. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. The firm had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter last year, the business posted ($0.26) earnings per share. The firm’s revenue was down 15.8% on a year-over-year basis. Equities research analysts forecast that Unity Software will post -1.86 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, Director David Helgason sold 250,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the completion of the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Felix The sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.89, for a total value of $536,700.00. Following the completion of the transaction, the senior vice president now directly owns 423,679 shares of the company’s stock, valued at approximately $7,579,617.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Helgason sold 250,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,600 shares of company stock worth $5,714,000. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Unity Software

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Unity Software by 4.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock valued at $315,000 after purchasing an additional 538 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Unity Software by 31.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,338 shares of the company’s stock valued at $62,000 after acquiring an additional 562 shares during the period. Venturi Wealth Management LLC lifted its stake in Unity Software by 28.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock valued at $89,000 after acquiring an additional 876 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Unity Software by 343.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 949 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Unity Software by 8.2% in the second quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock worth $216,000 after acquiring an additional 1,010 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.