Unity Software (NYSE:U) Price Target Raised to $32.00 at Morgan Stanley

Unity Software (NYSE:U) had its price target raised by Morgan Stanley from $26.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

U has been the subject of a number of other reports. UBS Group raised their price target on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. Wedbush reiterated an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. Jefferies Financial Group increased their price target on shares of Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Unity Software from $20.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Unity Software presently has an average rating of “Hold” and a consensus target price of $25.96.

Unity Software Price Performance

Shares of U opened at $28.31 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average price is $22.53 and its 200 day moving average price is $21.08. Unity Software has a 52 week low of $13.90 and a 52 week high of $33.43.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. The business had revenue of $457.10 million for the quarter, compared to analysts’ expectations of $433.47 million. As a group, sell-side analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In other news, CAO Mark Barrysmith sold 1,362 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the transaction, the chief accounting officer now owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. This represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Felix The sold 11,719 shares of Unity Software stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.39, for a total value of $285,826.41. Following the sale, the senior vice president now directly owns 411,960 shares in the company, valued at approximately $10,047,704.40. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 762,597 shares of company stock worth $18,732,374 in the last 90 days. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Unity Software in the fourth quarter worth $269,320,000. Slate Path Capital LP acquired a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. Capital International Investors lifted its holdings in shares of Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after acquiring an additional 1,786,032 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Unity Software by 3,843.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after acquiring an additional 1,725,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Unity Software by 366.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock valued at $43,505,000 after acquiring an additional 1,521,165 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Unity Software Company Profile

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.