Unity Software Target of Unusually Large Options Trading (NYSE:U)

Unity Software Inc. (NYSE:U) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 95,545 call options on the stock. Thisrepresentsanincreaseofapproximately46% compared to the average daily volume of 65,586 call options.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on U. 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 research note on Wednesday, July 16th. Wall Street Zen cut Unity Software from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Wells Fargo & Company lifted their price objective on shares of Unity Software from $19.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. Wedbush restated an “outperform” rating and set a $39.00 price objective on shares of Unity Software in a report on Wednesday, July 30th. Finally, BTIG Research lowered shares of Unity Software from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Unity Software currently has a consensus rating of “Hold” and an average price target of $27.22.

Unity Software Stock Performance

NYSE U opened at $31.96 on Thursday. The firm has a 50-day moving average price of $28.16 and a two-hundred day moving average price of $23.85. Unity Software has a 12-month low of $13.90 and a 12-month high of $38.96. The company has a market capitalization of $13.29 billion, a P/E ratio of -28.54 and a beta of 2.32. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.70.

Unity Software (NYSE:U) last released its earnings results on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.19. Unity Software had a negative return on equity of 14.12% and a negative net margin of 25.21%. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $415.77 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. Analysts anticipate that Unity Software will post -1.25 earnings per share for the current year.

Insider Transactions at Unity Software

In other news, Director James M. Whitehurst sold 72,955 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $1,549,564.20. Following the sale, the director directly owned 240,311 shares of the company’s stock, valued at $5,104,205.64. This represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew S. Bromberg sold 133,072 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $21.24, for a total transaction of $2,826,449.28. Following the completion of the sale, the chief executive officer directly owned 1,222,812 shares of the company’s stock, valued at approximately $25,972,526.88. This represents a 9.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,210,142 shares of company stock worth $31,199,782. 3.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atreides Management LP grew its stake in shares of Unity Software by 146.7% during the first quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after buying an additional 5,607,572 shares during the last quarter. Slate Path Capital LP bought a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Unity Software during the 1st quarter valued at $47,648,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Unity Software during the 1st quarter valued at $43,265,000. Finally, Vanguard Group Inc. grew its position in Unity Software by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock worth $645,775,000 after acquiring an additional 1,841,486 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

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.