Stock Traders Purchase High Volume of Call Options on Unity Software (NYSE:U)

Unity Software Inc. (NYSE:U) was the target of unusually large options trading on Thursday. Traders acquired 149,477 call options on the stock. This represents an increase of 181% compared to the average daily volume of 53,134 call options.

Analysts Set New Price Targets

A number of research analysts have recently commented on U shares. Wells Fargo & Company lowered their target price on Unity Software from $22.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Citizens Jmp upgraded Unity Software from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Stifel Nicolaus lowered their target price on Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Jefferies Financial Group upgraded Unity Software from a “hold” rating to a “buy” rating and increased their target price for the company from $22.00 to $29.00 in a research report on Friday, May 30th. Finally, Bank of America started coverage on Unity Software in a research report on Thursday, June 26th. They set an “underperform” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.47.

Insiders Place Their Bets

In other Unity Software news, Director David Helgason sold 261,473 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $25.70, for a total value of $6,719,856.10. Following the completion of the transaction, the director directly owned 7,489,173 shares in the company, valued at $192,471,746.10. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Anirma Gupta sold 46,957 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total value of $997,366.68. Following the completion of the transaction, the senior vice president owned 644,952 shares of the company’s stock, valued at $13,698,780.48. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,127,944 shares of company stock worth $27,166,375 over the last ninety days. 3.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently made changes to their positions in U. Rhumbline Advisers boosted its position in Unity Software by 0.7% during the first quarter. Rhumbline Advisers now owns 316,933 shares of the company’s stock valued at $6,209,000 after purchasing an additional 2,081 shares in the last quarter. Focus Partners Wealth bought a new stake in Unity Software during the first quarter valued at about $260,000. Bayforest Capital Ltd boosted its position in Unity Software by 175.5% during the first quarter. Bayforest Capital Ltd now owns 6,045 shares of the company’s stock valued at $118,000 after purchasing an additional 3,851 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Unity Software by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 813,176 shares of the company’s stock valued at $15,930,000 after purchasing an additional 45,481 shares in the last quarter. Finally, Sender Co & Partners Inc. bought a new stake in Unity Software during the first quarter valued at about $2,042,000. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Performance

U stock opened at $26.14 on Friday. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of -23.33 and a beta of 2.29. 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 has a twelve month low of $13.90 and a twelve month high of $30.88. The business’s fifty day simple moving average is $23.21 and its two-hundred day simple moving average is $22.32.

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