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

Shares of Unity Software Inc. (NYSE:U) rose 6.7% on Wednesday . The stock traded as high as $26.23 and last traded at $26.10. Approximately 4,512,439 shares traded 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.

Wall Street Analyst Weigh In

U has been the subject of several research reports. Benchmark raised their target price on Unity Software from $10.00 to $15.00 and gave the company a “sell” rating in a research note on Friday, November 8th. UBS Group increased their price target on Unity Software from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, September 13th. Piper Sandler reiterated a “neutral” rating and issued a $17.00 price target (down previously from $25.00) on shares of Unity Software in a research report on Friday, August 9th. Finally, Wedbush increased their price target on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research report 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. Based on data from MarketBeat, Unity Software has a consensus rating of “Hold” and an average target price of $23.35.

Unity Software Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $10.61 billion, a PE ratio of -12.77 and a beta of 2.33. The stock has a 50 day moving average price of $21.39 and a two-hundred day moving average price of $18.66.

Insider Activity

In other Unity Software news, SVP Felix The sold 11,719 shares of the firm’s stock in a transaction that occurred on 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 owns 411,960 shares of the company’s stock, valued at $10,047,704.40. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Barrysmith sold 8,112 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.38, for a total value of $197,770.56. Following the completion of the sale, the chief financial officer now directly owns 454,866 shares in the company, valued at $11,089,633.08. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 554,381 shares of company stock valued at $10,631,723. Insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its holdings in shares of Unity Software by 346.5% during the 1st quarter. Cetera Investment Advisers now owns 119,938 shares of the company’s stock worth $3,202,000 after purchasing an additional 93,078 shares in the last quarter. DNB Asset Management AS grew its holdings in shares of Unity Software by 5.1% during the 2nd quarter. DNB Asset Management AS now owns 35,932 shares of the company’s stock worth $584,000 after purchasing an additional 1,745 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Unity Software by 156.1% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 132,565 shares of the company’s stock worth $2,156,000 after purchasing an additional 80,795 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Unity Software by 56.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,234 shares of the company’s stock worth $231,000 after purchasing an additional 5,128 shares in the last quarter. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Unity Software during the 2nd quarter worth approximately $215,000. Institutional investors and hedge funds own 73.46% of the company’s stock.

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.