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

Hsbc Holdings PLC acquired a new position in shares of Unity Software Inc. (NYSE:U - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 194,042 shares of the company's stock, valued at approximately $5,591,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EFG International AG acquired a new position in Unity Software in the second quarter valued at about $7,384,000. Primecap Management Co. CA acquired a new stake in shares of Unity Software during the second quarter worth about $4,364,000. Canada Pension Plan Investment Board acquired a new stake in shares of Unity Software during the second quarter worth about $7,077,000. Legal & General Group Plc acquired a new stake in shares of Unity Software during the second quarter worth about $8,006,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Unity Software during the 2nd quarter valued at about $3,527,000. 73.46% of the stock is currently owned by institutional investors.

Unity Software Stock Down 0.2%

U stock opened at $43.40 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $19.10 billion, a P/E ratio of -31.91, a P/E/G ratio of 1.90 and a beta of 2.04. The business has a 50-day moving average of $35.17 and a 200-day moving average of $27.74. Unity Software Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $52.15.

Unity Software (NYSE:U - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period last year, the company earned $0.18 earnings per share. Unity Software's quarterly revenue was up 24.0% on a year-over-year basis. On average, sell-side analysts anticipate that Unity Software Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other news, COO Alexander Blum sold 20,595 shares of Unity Software stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $933,159.45. Following the sale, the chief operating officer directly owned 707,375 shares in the company, valued at $32,051,161.25. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total transaction of $1,178,830.27. Following the completion of the sale, the chief financial officer directly owned 678,343 shares in the company, valued at approximately $30,735,721.33. This represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 65,991 shares of company stock worth $2,989,081. Insiders own 0.77% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on U. Barclays boosted their price objective on Unity Software from $28.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. BTIG Research lifted 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. Bank of America upgraded shares of Unity Software from a "neutral" rating to a "buy" rating and upped their price target for the company from $30.00 to $50.00 in a report on Friday, August 7th. Benchmark raised shares of Unity Software from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Friday, August 7th. Finally, Oppenheimer raised their price objective on shares of Unity Software from $38.00 to $47.00 and gave the stock an "outperform" rating in a report 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 issued a Sell rating to the company. Based on data from MarketBeat, Unity Software presently has an average rating of "Moderate Buy" and a consensus target price of $45.16.

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.

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