Hsbc Holdings PLC Buys New Shares in Unity Software Inc. $U

Hsbc Holdings PLC bought a new position in shares of Unity Software Inc. (NYSE:U) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 194,042 shares of the company’s stock, valued at approximately $5,591,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC bought a new position in Unity Software in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC increased its position in shares of Unity Software by 88.1% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $29,000 after purchasing an additional 341 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Unity Software during the 4th quarter worth approximately $36,000. IFP Advisors Inc bought a new stake in shares of Unity Software during the 3rd quarter worth approximately $33,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Unity Software by 3,953.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company’s stock valued at $49,000 after buying an additional 1,186 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.

Insider Activity at Unity Software

In other news, CFO Jarrod Yahes sold 26,017 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the transaction, the chief financial officer directly owned 678,343 shares of the company’s stock, valued at $30,735,721.33. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 16,383 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $742,313.73. Following the sale, the chief executive officer owned 1,541,131 shares of the company’s stock, valued at approximately $69,828,645.61. This represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 65,991 shares of company stock valued at $2,989,081 in the last ninety days. Company insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Unity Software from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Raymond James Financial initiated coverage on shares of Unity Software in a research report on Monday, June 29th. They set a “market perform” rating on the stock. BTIG Research increased their price target on shares of Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. HSBC raised shares of Unity Software from a “hold” rating to a “buy” rating and set a $47.10 price objective for the company in a research report on Friday, August 7th. Finally, Oppenheimer raised their target price on shares of Unity Software from $38.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Unity Software presently has an average rating of “Moderate Buy” and an average target price of $45.16.

Unity Software Stock Down 0.2%

U stock opened at $43.40 on Friday. Unity Software Inc. has a 1-year low of $16.78 and a 1-year high of $52.15. The business’s 50 day simple moving average is $35.17 and its 200 day simple moving average is $27.74. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $19.10 billion, a PE ratio of -31.91, a PEG ratio of 1.90 and a beta of 2.04.

Unity Software (NYSE:U) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.39. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The business had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 24.0% on a year-over-year basis. As a group, research analysts anticipate that Unity Software Inc. will post 0.55 EPS for the current year.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.