Unity Software (NYSE:U) Rating Increased to Buy at HSBC

HSBC upgraded shares of Unity Software (NYSE:U) from a hold rating to a buy rating in a research report released on Friday morning, MarketBeat Ratings reports. The firm currently has $34.00 price objective on the stock.

A number of other brokerages also recently commented on U. Jefferies Financial Group increased their price objective on Unity Software from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Monday, February 3rd. UBS Group lifted their price target on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Barclays upped their price objective on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their target price on shares of Unity Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.96.

Unity Software Price Performance

Shares of Unity Software stock opened at $28.31 on Friday. Unity Software has a 52 week low of $13.90 and a 52 week high of $33.43. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The stock has a market cap of $11.41 billion, a PE ratio of -13.88 and a beta of 2.32. The company’s 50-day moving average price is $22.53 and its two-hundred day moving average price is $21.08.

Unity Software (NYSE:U) last released its earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.05. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. The business had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million. As a group, sell-side analysts anticipate that Unity Software will post -1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Tomer Bar-Zeev sold 166,667 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.99, for a total transaction of $3,498,340.33. Following the transaction, the director now owns 3,481,479 shares in the company, valued at $73,076,244.21. This represents a 4.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Barrysmith sold 1,362 shares of Unity Software stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $21.91, for a total transaction of $29,841.42. Following the completion of the sale, the chief accounting officer now directly owns 452,276 shares of the company’s stock, valued at approximately $9,909,367.16. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 762,597 shares of company stock valued at $18,732,374 in the last three months. Insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Several large investors have recently made changes to their positions in the stock. Anderson Financial Strategies LLC acquired a new position in Unity Software in the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in Unity Software during the fourth quarter valued at about $30,000. Principal Securities Inc. grew its position in shares of Unity Software by 50.5% in the fourth quarter. Principal Securities Inc. now owns 1,422 shares of the company’s stock valued at $32,000 after purchasing an additional 477 shares during the last quarter. Planning Capital Management Corp bought a new position in shares of Unity Software in the third quarter worth about $34,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Unity Software during the 4th quarter worth about $36,000. 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.