Unity Software (NYSE:U) Upgraded by Hsbc Global Res to Strong-Buy Rating

Hsbc Global Res upgraded shares of Unity Software (NYSE:U - Free Report) to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 target price on the stock in a report on Friday. UBS Group upped their target price on shares of Unity Software from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. Needham & Company LLC upped their price objective on shares of Unity Software from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of Unity Software from $20.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Barclays increased their target price on shares of Unity Software from $18.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $25.96.

Unity Software Price Performance

Shares of Unity Software stock traded down $1.61 on Friday, hitting $25.67. The company's stock had a trading volume of 28,340,365 shares, compared to its average volume of 12,678,722. Unity Software has a 52-week low of $13.90 and a 52-week high of $33.43. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $22.60 and a 200-day moving average price of $21.34. The company has a market capitalization of $10.34 billion, a P/E ratio of -15.28 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative net margin of 36.63% and a negative return on equity of 13.40%. On average, equities research analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Felix The sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 391,960 shares in the company, valued at approximately $10,751,462.80. This represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tomer Bar-Zeev sold 210,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.23, for a total value of $5,508,300.00. Following the transaction, the director now owns 967,650 shares in the company, valued at $25,381,459.50. This trade represents a 17.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 742,766 shares of company stock worth $18,248,777. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

Several large investors have recently added to or reduced their stakes in U. Creative Planning increased its position in Unity Software by 13.7% in the third quarter. Creative Planning now owns 153,742 shares of the company's stock worth $3,478,000 after buying an additional 18,547 shares during the period. Blue Trust Inc. increased its position in Unity Software by 54.0% in the third quarter. Blue Trust Inc. now owns 4,810 shares of the company's stock worth $109,000 after buying an additional 1,687 shares during the period. Signaturefd LLC increased its position in Unity Software by 106.1% in the third quarter. Signaturefd LLC now owns 4,081 shares of the company's stock worth $92,000 after buying an additional 2,101 shares during the period. Greenleaf Trust acquired a new stake in Unity Software in the third quarter worth $310,000. Finally, International Assets Investment Management LLC increased its position in Unity Software by 1,787.9% in the third quarter. International Assets Investment Management LLC now owns 14,839 shares of the company's stock worth $336,000 after buying an additional 14,053 shares during the period. 73.46% of the stock is currently owned by 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.