Unity Software (NYSE:U) Stock Price Up 6.7% – Should You Buy?

Unity Software Inc. (NYSE:U)’s stock price rose 6.7% during mid-day trading on Wednesday . The stock traded as high as $26.23 and last traded at $26.10. Approximately 4,512,439 shares changed hands during trading, a decline of 57% from the average daily volume of 10,536,113 shares. The stock had previously closed at $24.45.

Analysts Set New Price Targets

U has been the subject of several research reports. Barclays lifted their price target on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, September 13th. Wells Fargo & Company started coverage on Unity Software in a research note on Monday, October 28th. They set an “equal weight” rating and a $20.00 price target for the company. Needham & Company LLC boosted their target price on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Wedbush boosted their target price on shares of Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.35.

Unity Software Stock Performance

The stock has a market cap of $10.61 billion, a PE ratio of -12.77 and a beta of 2.33. The stock has a fifty day simple moving average of $21.39 and a two-hundred day simple moving average of $18.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Insiders Place Their Bets

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $17.52, for a total value of $4,380,000.00. Following the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at $74,427,517.92. This represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Felix The sold 11,719 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 411,960 shares in the company, valued at approximately $10,047,704.40. This 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 554,381 shares of company stock worth $10,631,723 in the last 90 days. 6.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Large investors have recently added to or reduced their stakes in the stock. Magnetar Financial LLC bought a new position in shares of Unity Software in the second quarter worth $2,535,000. Charles Schwab Investment Management Inc. grew its stake in shares of Unity Software by 100.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,886,016 shares of the company’s stock worth $42,662,000 after purchasing an additional 944,709 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Unity Software by 2,665.4% in the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock worth $7,747,000 after purchasing an additional 330,088 shares in the last quarter. LMR Partners LLP bought a new position in shares of Unity Software in the third quarter worth $611,000. Finally, Edgestream Partners L.P. grew its stake in shares of Unity Software by 637.9% in the third quarter. Edgestream Partners L.P. now owns 102,899 shares of the company’s stock worth $2,328,000 after purchasing an additional 88,955 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.