Stock Traders Buy Large Volume of Unity Software Call Options (NYSE:U)

Unity Software Inc. (NYSE:UGet Rating) was the target of some unusual options trading activity on Wednesday. Traders bought 42,298 call options on the stock. This represents an increase of approximately 44% compared to the typical volume of 29,282 call options.

Insider Activity

In other news, SVP Marc Whitten sold 6,546 shares of Unity Software stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.93, for a total value of $300,657.78. Following the transaction, the senior vice president now owns 252,744 shares of the company’s stock, valued at approximately $11,608,531.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Marc Whitten sold 6,546 shares of Unity Software stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.93, for a total value of $300,657.78. Following the transaction, the senior vice president now owns 252,744 shares of the company’s stock, valued at approximately $11,608,531.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Luis Felipe Visoso sold 9,894 shares of Unity Software stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $45.94, for a total transaction of $454,530.36. Following the completion of the transaction, the chief financial officer now directly owns 314,251 shares in the company, valued at approximately $14,436,690.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,831 shares of company stock worth $836,315. 6.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. SC US Ttgp LTD. boosted its stake in Unity Software by 5.5% during the first quarter. SC US Ttgp LTD. now owns 24,652,204 shares of the company’s stock worth $2,445,745,000 after buying an additional 1,290,472 shares during the period. Vanguard Group Inc. lifted its position in shares of Unity Software by 3.0% during the third quarter. Vanguard Group Inc. now owns 19,022,372 shares of the company’s stock worth $606,053,000 after purchasing an additional 552,115 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Unity Software by 22.7% during the third quarter. ARK Investment Management LLC now owns 11,263,159 shares of the company’s stock worth $358,844,000 after purchasing an additional 2,087,448 shares in the last quarter. BlackRock Inc. lifted its position in shares of Unity Software by 2.3% during the third quarter. BlackRock Inc. now owns 11,127,497 shares of the company’s stock worth $354,522,000 after purchasing an additional 250,855 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Unity Software by 8.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,083,364 shares of the company’s stock worth $225,676,000 after purchasing an additional 557,858 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on U shares. Piper Sandler decreased their price objective on shares of Unity Software from $38.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Wedbush decreased their price objective on shares of Unity Software from $70.00 to $45.00 in a research note on Thursday, November 10th. Barclays decreased their price objective on shares of Unity Software from $33.00 to $22.00 in a research note on Thursday, November 10th. BTIG Research decreased their price objective on shares of Unity Software from $68.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Finally, Needham & Company LLC initiated coverage on shares of Unity Software in a research note on Friday, October 7th. They issued a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.65.

Unity Software Trading Up 8.5 %

Shares of U opened at $36.17 on Thursday. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.77. Unity Software has a 12-month low of $21.22 and a 12-month high of $186.60. The firm has a 50-day moving average price of $31.49 and a 200 day moving average price of $37.90. The firm has a market capitalization of $10.88 billion, a P/E ratio of -13.45 and a beta of 1.77.

About Unity Software

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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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