Citigroup Upgrades Unity Software (NYSE:U) to Buy

Unity Software (NYSE:U) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $30.00 target price on the stock. Citigroup’s price objective suggests a potential upside of 39.05% from the company’s current price.

A number of other research firms have also recently issued reports on U. Needham & Company LLC increased their target price on Unity Software from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays boosted their price objective on shares of Unity Software from $18.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, February 21st. UBS Group raised their price target on Unity Software from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley boosted their price target on Unity Software from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group raised their target price on shares of Unity Software from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.61.

Unity Software Trading Down 10.8 %

U stock opened at $21.58 on Tuesday. The business has a fifty day moving average of $22.93 and a 200-day moving average of $21.86. The company has a market cap of $8.84 billion, a P/E ratio of -12.84 and a beta of 2.27. Unity Software has a twelve month low of $13.90 and a twelve month high of $30.88. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last issued its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (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 company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. As a group, equities research analysts expect that Unity Software will post -1.25 EPS for the current year.

Insider Activity at Unity Software

In other Unity Software news, CFO Mark Barrysmith sold 1,228 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $24.44, for a total transaction of $30,012.32. Following the completion of the sale, the chief financial officer now directly owns 453,638 shares of the company’s stock, valued at approximately $11,086,912.72. The trade was a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Helgason sold 38,924 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $26.92, for a total value of $1,047,834.08. Following the completion of the sale, the director now directly owns 7,828,494 shares of the company’s stock, valued at approximately $210,743,058.48. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 864,537 shares of company stock valued at $20,839,722 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of U. Vanguard Group Inc. increased its position in shares of Unity Software by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company’s stock worth $699,335,000 after purchasing an additional 625,872 shares during the last quarter. Capital International Investors lifted its position in Unity Software by 10.4% in the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Norges Bank purchased a new stake in shares of Unity Software during the fourth quarter valued at approximately $269,320,000. Geode Capital Management LLC grew its holdings in shares of Unity Software by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after purchasing an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP purchased a new stake in Unity Software in the 4th quarter worth approximately $62,387,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.