Unity Software (NYSE:U) Given New $33.00 Price Target at Needham & Company LLC

Unity Software (NYSE:U) had its price objective increased by Needham & Company LLC from $26.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 18.05% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group upped their price target on shares of Unity Software from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 6th. HSBC upgraded Unity Software from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Friday. Wedbush reaffirmed an “outperform” rating and set a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. Macquarie boosted their price target on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised their price objective on shares of Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.68.

Unity Software Price Performance

Unity Software stock opened at $27.96 on Friday. The stock’s 50 day moving average is $22.45 and its 200 day moving average is $20.99. Unity Software has a one year low of $13.90 and a one year high of $33.43. The firm has a market cap of $11.26 billion, a P/E ratio of -13.70 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. As a group, research analysts expect that Unity Software will post -1.72 EPS for the current year.

Insider Transactions at Unity Software

In related news, CAO Mark Barrysmith sold 1,395 shares of Unity Software stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now owns 450,881 shares of the company’s stock, valued at $9,775,100.08. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Felix The sold 11,719 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.39, for a total value of $285,826.41. Following the completion of the sale, the senior vice president now directly owns 411,960 shares of the company’s stock, valued at $10,047,704.40. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 679,264 shares of company stock valued at $16,612,383 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC bought a new position in shares of Unity Software during the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $30,000. Principal Securities Inc. increased 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 acquiring an additional 477 shares during the last quarter. Planning Capital Management Corp bought a new stake in Unity Software during the third quarter worth $34,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Unity Software in the fourth quarter worth $36,000. 73.46% of the stock is currently 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.