Unity Software Inc. $U Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its holdings in Unity Software Inc. by 59.3% in the first quarter, owning 590,820 shares worth approximately $11.55 million.
• Analysts have varying opinions on Unity Software, with target prices ranging from $15.00 to $41.00 and a consensus rating of "Moderate Buy."
• Insider trading activity includes Director David Helgason selling 261,473 shares and CEO Matthew S. Bromberg selling 133,072 shares, indicating a decrease in their ownership stakes.

Hsbc Holdings PLC grew its position in shares of Unity Software Inc. (NYSE:U - Free Report) by 59.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 590,820 shares of the company's stock after purchasing an additional 219,834 shares during the period. Hsbc Holdings PLC owned 0.14% of Unity Software worth $11,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of Unity Software by 30,300.0% during the first quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock valued at $25,000 after buying an additional 1,212 shares during the period. Anderson Financial Strategies LLC acquired a new position in Unity Software in the 4th quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Unity Software during the 4th quarter worth $36,000. Itau Unibanco Holding S.A. lifted its stake in shares of Unity Software by 150.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,778 shares of the company's stock worth $40,000 after purchasing an additional 1,068 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock worth $55,000 after purchasing an additional 1,186 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on U. Jefferies Financial Group upped their target price on Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wedbush lifted their price target on Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. BTIG Research lowered shares of Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price objective on the stock. in a report on Wednesday, July 23rd. JMP Securities raised their target price on shares of Unity Software from $30.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Finally, Bank of America initiated coverage on shares of Unity Software in a report on Thursday, June 26th. They issued an "underperform" rating and a $15.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Unity Software has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Insiders Place Their Bets

In other Unity Software news, Director David Helgason sold 261,473 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $25.70, for a total transaction of $6,719,856.10. Following the transaction, the director owned 7,489,173 shares in the company, valued at $192,471,746.10. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew S. Bromberg sold 133,072 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total value of $2,826,449.28. Following the completion of the sale, the chief executive officer owned 1,222,812 shares of the company's stock, valued at approximately $25,972,526.88. This trade represents a 9.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,214,694 shares of company stock worth $31,384,519. 3.61% of the stock is owned by company insiders.

Unity Software Stock Performance

NYSE U opened at $39.0440 on Monday. 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 Inc. has a 1-year low of $15.33 and a 1-year high of $39.72. The firm has a market capitalization of $16.50 billion, a P/E ratio of -36.83 and a beta of 2.32. The business's 50-day simple moving average is $30.92 and its 200-day simple moving average is $25.08.

Unity Software (NYSE:U - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). The business 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 firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company posted ($0.32) EPS. Equities analysts predict that Unity Software Inc. will post -1.25 EPS for the current year.

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.

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