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Piper Sandler Upgrades Unity Software Inc (U) to a Neutral from an Underweight

Unity Software Inc’s recently made public that its SVP & Chief Marketing Officer Carpenter Carol W. unloaded Company’s shares for reported $48360.0 on May 01 ’24. In the deal valued at $24.18 per share,2,000 shares were sold. As a result of this transaction, Carpenter Carol W. now holds 442,617 shares worth roughly $10.04 million.

Then, Gupta Anirma sold 1,037 shares, generating $25,324 in total proceeds. Upon selling the shares at $24.42, the SVP, Chief Legal Officer now owns 386,706 shares.

Before that, Carpenter Carol W. sold 2,000 shares. Unity Software Inc shares valued at $53,160 were divested by the SVP & Chief Marketing Officer at a price of $26.58 per share. As a result of the transaction, Carpenter Carol W. now holds 444,617 shares, worth roughly $10.09 million.

Piper Sandler upgraded its Unity Software Inc [U] rating to a Neutral from a an Underweight in a research note published on February 27, 2024; the price target was decreased to $30 from $35. A number of analysts have revised their coverage, including Macquarie’s analysts, who decreased its forecast for the stock in mid February from “a Neutral” to “an Underperform”. Piper Sandler also remained covering U and has decreased its forecast on January 02, 2024 with a “an Underweight” recommendation from previously “Neutral” rating. HSBC Securities started covering the stock on December 18, 2023. It rated U as “a Hold”.

Price Performance Review of U

On Monday, Unity Software Inc [NYSE:U] saw its stock jump 4.61% to $22.69. Over the last five days, the stock has lost -10.98%. Unity Software Inc shares have fallen nearly -44.51% since the year began. Nevertheless, the stocks have fallen -30.10% over the past one year. While a 52-week high of $50.08 was reached on 01/02/24, a 52-week low of $21.64 was recorded on 05/13/24. SMA at 50 days reached $25.39, while 200 days put it at $31.29. A total of 12.17 million shares were traded, compared to the trading of 26.5 million shares in the previous session.

Levels Of Support And Resistance For U Stock

The 24-hour chart illustrates a support level at 21.84, which if violated will result in even more drops to 20.99. On the upside, there is a resistance level at 23.31. A further resistance level may holdings at 23.93. The Relative Strength Index (RSI) on the 14-day chart is 39.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.77%. Stochastics %K at 27.92% indicates the stock is a holding.

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