Unity Software (NYSE:U) Cut to Hold at HSBC

HSBC cut shares of Unity Software (NYSE:U) from a buy rating to a hold rating in a research note released on Tuesday morning, Marketbeat reports. The firm currently has $40.80 price target on the stock, up from their prior price target of $37.50.

U has been the subject of a number of other reports. Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. BTIG Research downgraded Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research report on Wednesday, July 23rd. Needham & Company LLC lifted their target price on Unity Software from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Barclays lifted their target price on Unity Software from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Finally, Wedbush lifted their target price on Unity Software from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.05.

Unity Software Stock Up 2.2%

U stock opened at $39.15 on Tuesday. 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 52-week low of $15.33 and a 52-week high of $46.94. The company has a 50-day moving average of $39.35 and a two-hundred day moving average of $28.93. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of -36.93 and a beta of 2.32.

Unity Software (NYSE:U) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $425.18 million. During the same quarter last year, the company earned ($0.32) earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insiders Place Their Bets

In related news, COO Alexander Blum sold 63,813 shares of the company’s stock in a transaction 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 in the company, valued at $23,796,191.51. This represents a 9.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark Barrysmith sold 645 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $46.52, for a total transaction of $30,005.40. Following the completion of the sale, the chief accounting officer owned 453,788 shares of the company’s stock, 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 have sold 2,334,426 shares of company stock worth $98,130,784 over the last 90 days. 3.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Unity Software by 10.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,967 shares of the company’s stock worth $119,000 after purchasing an additional 288 shares during the period. Allworth Financial LP boosted its stake in shares of Unity Software by 28.4% during the 2nd quarter. Allworth Financial LP now owns 1,865 shares of the company’s stock worth $45,000 after buying an additional 412 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Unity Software by 4.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 10,766 shares of the company’s stock worth $261,000 after buying an additional 454 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Unity Software by 2.1% during the 2nd quarter. Captrust Financial Advisors now owns 22,330 shares of the company’s stock worth $540,000 after buying an additional 462 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in shares of Unity Software by 11.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 5,116 shares of the company’s stock worth $124,000 after buying an additional 510 shares during the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

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.