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

Unity Software (NYSE:U) had its price target lifted by Needham & Company LLC from $26.00 to $33.00 in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Wedbush reissued an “outperform” rating and issued a $27.00 price objective on shares of Unity Software in a research note on Thursday, February 13th. Morgan Stanley boosted their price target on shares of Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Jefferies Financial Group raised their price objective 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. Barclays boosted their target price on Unity Software from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Macquarie raised their price target on Unity Software from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.96.

Unity Software Trading Up 1.1 %

Shares of U opened at $28.31 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $33.43. The firm has a 50-day simple moving average of $22.53 and a 200-day simple moving average of $21.08.

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

Insider Activity at Unity Software

In other news, SVP Felix The sold 20,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the sale, the senior vice president now directly owns 391,960 shares in the company, valued at $10,751,462.80. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Barrysmith sold 1,228 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $24.44, for a total value of $30,012.32. Following the sale, the chief financial officer now directly owns 453,638 shares in the company, valued at approximately $11,086,912.72. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 762,597 shares of company stock valued at $18,732,374. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in U. Soviero Asset Management LP purchased a new stake in Unity Software in the 4th quarter worth approximately $2,247,000. Sphera Management Technology Funds Ltd acquired a new stake in shares of Unity Software during the fourth quarter worth $1,128,000. Two Sigma Advisers LP purchased a new stake in shares of Unity Software in the fourth quarter valued at $494,000. Two Sigma Investments LP acquired a new position in Unity Software in the fourth quarter valued at $22,999,000. Finally, Tidal Investments LLC lifted its position in Unity Software by 32.6% during the fourth quarter. Tidal Investments LLC now owns 20,428 shares of the company’s stock worth $459,000 after buying an additional 5,018 shares during the period. 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.