Unity Software (NYSE:U) Trading Up 7.2% – Time to Buy?

Unity Software Inc. (NYSE:U) shares shot up 7.2% during mid-day trading on Tuesday . The company traded as high as $23.21 and last traded at $23.32. 2,033,450 shares traded hands during trading, a decline of 79% from the average session volume of 9,554,587 shares. The stock had previously closed at $21.75.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on U shares. Morgan Stanley increased their price target on shares of Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company assumed coverage on Unity Software in a research report on Monday, October 28th. They set an “equal weight” rating and a $20.00 target price for the company. Macquarie increased their price objective on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research note on Friday, November 8th. Barclays lifted their price objective on Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, UBS Group increased their target price on shares of Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.81.

Unity Software Stock Up 6.3 %

The company has a market capitalization of $9.32 billion, a P/E ratio of -11.34 and a beta of 2.32. 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 firm has a fifty day simple moving average of $23.47 and a 200-day simple moving average of $20.38.

Unity Software (NYSE:U) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.08. The company had revenue of $446.52 million during the quarter, compared to analysts’ expectations of $428.01 million. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. During the same quarter in the prior year, the company earned ($0.12) earnings per share. On average, equities research analysts expect that Unity Software Inc. will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In related news, Director David Helgason sold 7,860 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total transaction of $207,897.00. Following the transaction, the director now directly owns 10,493 shares in the company, valued at approximately $277,539.85. The trade was a 42.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the transaction, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 764,487 shares of company stock worth $17,521,180. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Unity Software by 343.8% in the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock valued at $28,000 after acquiring an additional 949 shares during the period. R Squared Ltd bought a new stake in Unity Software in the 4th quarter valued at about $30,000. Planning Capital Management Corp acquired a new position in shares of Unity Software during the 3rd quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Unity Software by 163.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after purchasing an additional 1,389 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Unity Software in the third quarter valued at approximately $43,000. 73.46% of the stock is owned by 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.