Unity Software (NYSE:U) Upgraded to Buy at HSBC

HSBC upgraded shares of Unity Software (NYSE:U) from a hold rating to a buy rating in a report issued on Friday morning, MarketBeat.com reports. The brokerage currently has $34.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Wedbush reissued an “outperform” rating and issued a $27.00 target price on shares of Unity Software in a research note on Thursday, February 13th. Jefferies Financial Group raised their price target on shares of Unity Software from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company began coverage on Unity Software in a research note on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Finally, UBS Group raised their target price on Unity Software from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.96.

Unity Software Stock Up 1.1 %

Shares of U opened at $28.31 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50-day simple moving average of $22.53 and a 200-day simple moving average of $21.08. Unity Software has a 52 week low of $13.90 and a 52 week high of $33.43. The firm has a market capitalization of $11.41 billion, a P/E ratio of -13.88 and a beta of 2.32.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%. The firm had revenue of $457.10 million during the quarter, compared to analysts’ expectations of $433.47 million. On average, equities research analysts expect that Unity Software will post -1.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Felix The sold 20,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the transaction, the senior vice president now owns 391,960 shares of the company’s stock, valued at $10,751,462.80. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Barrysmith sold 1,228 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $24.44, for a total value of $30,012.32. Following the completion of the transaction, the chief financial officer now owns 453,638 shares in the company, valued at approximately $11,086,912.72. This represents a 0.27 % 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 90 days. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Unity Software in the 4th quarter valued at $269,320,000. Slate Path Capital LP bought a new stake in Unity Software in the fourth quarter valued at about $62,387,000. Capital International Investors increased its holdings in Unity Software by 10.4% in the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock valued at $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Unity Software by 3,843.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company’s stock valued at $39,771,000 after buying an additional 1,725,070 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Unity Software by 366.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company’s stock worth $43,505,000 after buying an additional 1,521,165 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Company Profile

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.