Unity Software (NYSE:U) Stock Rating Upgraded by HSBC

Unity Software (NYSE:U - Get Free Report) was upgraded by stock analysts at HSBC from a "hold" rating to a "buy" rating in a note issued to investors on Friday, MarketBeat reports. The firm currently has a $34.00 target price on the stock. HSBC's price target suggests a potential upside of 32.46% from the stock's previous close.

A number of other analysts have also recently commented on U. Macquarie upped their price target on shares of Unity Software from $15.00 to $16.00 and gave the company an "underperform" rating in a research note on Friday, November 8th. UBS Group increased their price target on shares of Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Needham & Company LLC raised their price objective on Unity Software from $23.00 to $26.00 and gave the company a "buy" rating in a report on Friday, November 8th. Benchmark upgraded shares of Unity Software from a "sell" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company began coverage on shares of Unity Software in a report on Monday, October 28th. They set an "equal weight" rating and a $20.00 price target for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $25.96.

Unity Software Trading Down 5.9 %

Shares of Unity Software stock traded down $1.61 during midday trading on Friday, reaching $25.67. The company had a trading volume of 28,326,797 shares, compared to its average volume of 12,676,332. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $33.43. The stock has a fifty day moving average price of $22.58 and a 200 day moving average price of $21.27. The firm has a market cap of $10.34 billion, a PE ratio of -15.28 and a beta of 2.32. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

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

Insider Activity at Unity Software

In other Unity Software news, CAO Mark Barrysmith sold 1,395 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $21.68, for a total transaction of $30,243.60. Following the sale, the chief accounting officer now directly owns 450,881 shares in the company, valued at $9,775,100.08. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tomer Bar-Zeev sold 210,000 shares of Unity Software stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $26.23, for a total value of $5,508,300.00. Following the completion of the transaction, the director now owns 967,650 shares of the company's stock, valued at approximately $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 quarter, insiders have sold 742,766 shares of company stock valued at $18,248,777. 6.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Unity Software in the 4th quarter worth $269,320,000. Slate Path Capital LP purchased a new position in shares of Unity Software during the 4th quarter worth approximately $62,387,000. Capital International Investors raised its position in shares of Unity Software by 10.4% during the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company's stock worth $424,388,000 after purchasing an additional 1,786,032 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of 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 acquiring an additional 1,725,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

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.