Unity Software (NYSE:U) Lowered to Hold Rating by HSBC

HSBC lowered shares of Unity Software (NYSE:U) from a buy rating to a hold rating in a report released on Tuesday, MarketBeat reports. HSBC currently has $40.80 price target on the stock, up from their prior price target of $37.50.

A number of other brokerages also recently weighed in on U. JMP Securities boosted their price objective on shares of Unity Software from $30.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Wedbush upped their target price on Unity Software from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Citigroup raised their price target on Unity Software from $29.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Morgan Stanley upped their price objective on Unity Software from $25.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, UBS Group increased their target price on Unity Software from $22.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.65.

Unity Software Stock Performance

Shares of U stock opened at $40.04 on Tuesday. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of -37.77 and a beta of 2.33. Unity Software has a one year low of $15.33 and a one year high of $46.94. The company’s 50-day simple moving average is $39.14 and its 200-day simple moving average is $28.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.73 and a current ratio of 2.73.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the previous year, the company earned ($0.32) EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Unity Software

In related news, COO Alexander Blum sold 63,813 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $39.41, for a total value of $2,514,870.33. Following the completion of the sale, the chief operating officer owned 603,811 shares of the company’s stock, valued at $23,796,191.51. This trade represents a 9.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark Barrysmith sold 645 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $46.52, for a total value of $30,005.40. Following the transaction, the chief accounting officer directly owned 453,788 shares in the company, valued at approximately $21,110,217.76. This represents a 0.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,134,426 shares of company stock valued at $89,426,284 over the last three months. Insiders own 3.61% of the company’s stock.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently made changes to their positions in U. Corient Private Wealth LLC acquired a new position in shares of Unity Software in the 2nd quarter valued at $355,000. Osaic Holdings Inc. increased its holdings in Unity Software by 9.5% in the second quarter. Osaic Holdings Inc. now owns 35,892 shares of the company’s stock valued at $868,000 after purchasing an additional 3,111 shares during the last quarter. Marex Group plc acquired a new position in Unity Software in the second quarter valued at about $281,000. Advisory Services Network LLC boosted its holdings in Unity Software by 13.7% during the second quarter. Advisory Services Network LLC now owns 43,702 shares of the company’s stock worth $1,058,000 after buying an additional 5,255 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Unity Software during the 2nd quarter worth about $721,000. Institutional investors own 73.46% of the company’s stock.

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.