Unity Software (NYSE:U) Stock Rating Lowered by Hsbc Global Res

Unity Software (NYSE:U) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on U. Wells Fargo & Company lifted their price target on Unity Software from $24.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. BTIG Research cut Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 price target for the company. in a research report on Wednesday, July 23rd. UBS Group lifted their price target on Unity Software from $22.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Morgan Stanley lifted their price target on Unity Software from $25.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, HSBC cut Unity Software from a “buy” rating to a “hold” rating and lifted their price target for the company from $37.50 to $40.80 in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.05.

Unity Software Stock Performance

Shares of U opened at $38.22 on Tuesday. The firm has a market cap of $16.15 billion, a PE ratio of -36.06 and a beta of 2.32. The stock’s fifty day moving average price is $39.24 and its two-hundred day moving average price is $28.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. Unity Software has a 1 year low of $15.33 and a 1 year high of $46.94.

Unity Software (NYSE:U) last issued its earnings results 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). The firm had revenue of $440.94 million during the quarter, compared to the consensus estimate of $425.18 million. Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. On average, equities research analysts forecast that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling at Unity Software

In related news, Director David Helgason sold 1,350,000 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the completion of the transaction, the director directly owned 6,139,173 shares in the company, valued at $272,763,456.39. The trade was a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew S. Bromberg sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $40.03, for a total value of $4,803,600.00. Following the completion of the transaction, the chief executive officer owned 1,222,812 shares of the company’s stock, valued at $48,949,164.36. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,084,426 shares of company stock valued at $88,173,284 over the last 90 days. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Unity Software by 28.4% in the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after purchasing an additional 412 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Unity Software by 4.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock worth $261,000 after purchasing an additional 454 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Unity Software by 2.1% in the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after purchasing an additional 462 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Unity Software by 11.1% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 5,116 shares of the company’s stock worth $124,000 after purchasing an additional 510 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Unity Software by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock worth $355,000 after purchasing an additional 525 shares in the last quarter. 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.