Unity Software Inc (NYSE: U) stock jumped 1.04% on Friday to $29.20 against a previous-day closing price of $28.90. With 7.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 11.17 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $29.42 whereas the lowest price it dropped to was $28.45. The 52-week range on U shows that it touched its highest point at $50.08 and its lowest point at $22.20 during that stretch. It currently has a 1-year price target of $30.34. Beta for the stock currently stands at 2.44.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of U was up-trending over the past week, with a rise of 8.11%, but this was up by 6.22% over a month. Three-month performance dropped to -15.39% while six-month performance rose 0.34%. The stock lost -12.26% in the past year, while it has gained 2.13% so far this year. A look at the trailing 12-month EPS for U yields -2.33 with Next year EPS estimates of 1.06. For the next quarter, that number is 0.23. This implies an EPS growth rate of 264.40% for this year and 47.28% for next year.
Float and Shares Shorts:
At present, 374.24 million U shares are outstanding with a float of 231.34 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.51 million, which was 6.39% higher than short shares on Sep 28, 2023. In addition to Mr. David Helgason as the firm’s Co-Founder & Independent Director, Mr. Luis Felipe Visoso serves as its EVP & CFO.
Institutional Ownership:
Through their ownership of 71.58% of U’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.29% of U, in contrast to 21.75% held by mutual funds. Shares owned by individuals account for 19.14%. As the largest shareholder in U with 6.58% of the stake, The Vanguard Group, Inc. holds 25,244,805 shares worth 25,244,805. A second-largest stockholder of U, ARK Investment Management LLC, holds 11,477,199 shares, controlling over 2.99% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in U, holding 10,873,425 shares or 2.84% stake. With a 2.19% stake in U, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 8,396,104 shares are owned by the mutual fund manager. The ARK Innovation ETF, which owns about 2.15% of U stock, is the second-largest Mutual Fund holder. It holds 8,241,620 shares valued at 209.09 million. Vanguard Mid Cap Index Fund holds 1.59% of the stake in U, owning 6,101,549 shares worth 154.8 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for U since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With U analysts setting a high price target of $46.00 and a low target of $16.00, the average target price over the next 12 months is $30.34. Based on these targets, U could surge 57.53% to reach the target high and fall by -45.21% to reach the target low. Reaching the average price target will result in a growth of 3.9% from current levels.
Summary of Insider Activity:
Insiders traded U stock several times over the past three months with 3 Buys and 23 Sells. In these transactions, 27,768 shares were bought while 1,082,726 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 81 over the past year. The total number of shares bought during that period was 1,991,717 while 5,874,506 shares were sold.
