Hsbc Holdings PLC Has $5.59 Million Stake in Unity Software Inc. $U

Hsbc Holdings PLC raised its stake in Unity Software Inc. (NYSE:U) by 731.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,042 shares of the company’s stock after acquiring an additional 170,714 shares during the quarter. Hsbc Holdings PLC’s holdings in Unity Software were worth $5,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in shares of Unity Software during the first quarter worth $54,534,000. Entropy Technologies LP acquired a new stake in shares of Unity Software during the 1st quarter valued at $1,985,000. Nano Cap New Millennium Growth Fund L P bought a new stake in Unity Software during the 4th quarter worth $3,710,000. GSA Capital Partners LLP bought a new stake in Unity Software during the 2nd quarter worth $1,370,000. Finally, Avala Global LP acquired a new position in Unity Software in the 2nd quarter worth about $62,522,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Trading Down 0.6%

NYSE U opened at $42.49 on Thursday. The firm has a market capitalization of $18.70 billion, a PE ratio of -31.24, a price-to-earnings-growth ratio of 1.87 and a beta of 2.06. The business’s 50-day moving average price is $37.37 and its two-hundred day moving average price is $28.94. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. Unity Software Inc. has a 12 month low of $16.78 and a 12 month high of $52.15.

Unity Software (NYSE:U) last issued 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. The company had revenue of $546.47 million during the quarter, compared to the consensus estimate of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%.The firm’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the company earned $0.18 earnings per share. On average, analysts expect that Unity Software Inc. will post 0.55 EPS for the current year.

Insider Activity

In other news, CFO Jarrod Yahes sold 26,017 shares of the business’s 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 $1,178,830.27. Following the transaction, the chief financial officer owned 678,343 shares in the company, valued at approximately $30,735,721.33. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Alexander Blum sold 43,556 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $43.51, for a total transaction of $1,895,121.56. Following the completion of the sale, the chief operating officer directly owned 661,855 shares in the company, valued at approximately $28,797,311.05. This represents a 6.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,547 shares of company stock worth $4,884,202 in the last 90 days. 0.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on U shares. BTIG Research lifted their price target on Unity Software from $43.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Benchmark upgraded shares of Unity Software from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, August 7th. Citigroup lifted their target price on shares of Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Needham & Company LLC upped their price target on shares of Unity Software from $40.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Unity Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and media.

The company’s core offerings include the Unity Engine and related development tools, which support graphics, physics, animation, audio, scripting and deployment across multiple platforms.