Unity Software (NYSE:U) Downgraded to Hold Rating by Hsbc Global Res

Hsbc Global Res lowered shares of Unity Software (NYSE:U) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Several other research firms also recently weighed in on U. Citigroup raised their target price on shares of Unity Software from $29.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Wedbush raised their price objective on shares of Unity Software from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. HSBC downgraded Unity Software from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $37.50 to $40.80 in a research report on Tuesday. Jefferies Financial Group increased their target price on Unity Software from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Zacks Research cut Unity Software from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.65.

Unity Software Stock Performance

U opened at $40.04 on Tuesday. Unity Software has a 1-year low of $15.33 and a 1-year high of $46.94. The stock has a market cap of $16.92 billion, a P/E ratio of -37.77 and a beta of 2.33. The stock’s 50 day simple moving average is $39.14 and its 200 day simple moving average is $28.75. 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 (NYSE:U) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. As a group, equities analysts anticipate that Unity Software will post -1.25 EPS for the current fiscal year.

Insider Transactions at Unity Software

In related news, COO Alexander Blum sold 63,813 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $39.41, for a total transaction of $2,514,870.33. Following the transaction, the chief operating officer directly owned 603,811 shares in the company, valued at approximately $23,796,191.51. This represents a 9.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Shlomo Dovrat sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the sale, the director directly owned 189,089 shares in the company, valued at approximately $5,674,560.89. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,134,426 shares of company stock valued at $89,426,284. Corporate insiders own 3.61% of the company’s stock.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in shares of Unity Software by 116.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company’s stock valued at $570,000 after purchasing an additional 15,633 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Unity Software in the first quarter valued at approximately $433,000. GAMMA Investing LLC lifted its position in Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company’s stock valued at $55,000 after buying an additional 1,186 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Unity Software during the first quarter worth approximately $2,215,000. Finally, Amalgamated Bank grew its stake in Unity Software by 3.0% during the first quarter. Amalgamated Bank now owns 18,132 shares of the company’s stock worth $355,000 after buying an additional 525 shares during the period. 73.46% of the stock is currently 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.