Unity Software Sees Unusually High Options Volume (NYSE:U)

Unity Software Inc. (NYSE:U) saw unusually large options trading activity on Wednesday. Stock investors purchased 145,220 call options on the stock. This represents an increase of approximately 535% compared to the average daily volume of 22,883 call options.

Insider Activity at Unity Software

In other Unity Software news, SVP Rebecca Boyden sold 1,032 shares of the business’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $45.32, for a total value of $46,770.24. Following the sale, the senior vice president directly owned 308,413 shares in the company, valued at $13,977,277.16. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of the company’s stock in a transaction 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 directly owned 678,343 shares in the company, valued at $30,735,721.33. This represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 109,547 shares of company stock worth $4,884,202. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Unity Software

A number of large investors have recently bought and sold shares of the stock. REAP Financial Group LLC bought a new position in shares of Unity Software during the fourth quarter valued at approximately $28,000. Summit Securities Group LLC bought a new stake in Unity Software in the first quarter worth $54,000. Global Retirement Partners LLC bought a new position in shares of Unity Software in the second quarter worth approximately $56,000. Pacer Advisors Inc. raised its stake in shares of Unity Software by 59.5% in the first quarter. Pacer Advisors Inc. now owns 2,626 shares of the company’s stock worth $58,000 after purchasing an additional 980 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Unity Software by 37.6% during the 2nd quarter. Versant Capital Management Inc now owns 2,041 shares of the company’s stock valued at $58,000 after acquiring an additional 558 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.

Unity Software Price Performance

NYSE:U traded up $0.72 during trading hours on Wednesday, hitting $43.83. 5,159,382 shares of the company’s stock traded hands, compared to its average volume of 12,824,245. Unity Software has a 52 week low of $16.78 and a 52 week high of $52.15. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.55. The firm has a market cap of $19.29 billion, a P/E ratio of -32.23, a P/E/G ratio of 1.89 and a beta of 2.06. The business’s fifty day simple moving average is $39.62 and its two-hundred day simple moving average is $30.46.

Unity Software (NYSE:U) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative net margin of 28.97% and a positive return on equity of 4.64%. The firm had revenue of $546.47 million for the quarter, compared to analyst estimates of $514.72 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, research analysts anticipate that Unity Software will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on U shares. Piper Sandler lifted their target price on shares of Unity Software from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citigroup raised their price objective on shares of Unity Software from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 10th. UBS Group reissued an “outperform” rating on shares of Unity Software in a report on Friday, August 7th. Citizens Jmp increased their target price on Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company lifted their price target on Unity Software from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.16.

Unity Software Company 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.