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

Unity Software Inc. (NYSE:U) was the recipient of some unusual options trading activity on Thursday. Investors acquired 82,132 call options on the company. This is an increase of 73% compared to the typical daily volume of 47,511 call options.

Insider Activity

In other news, SVP Anirma Gupta sold 1,506 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $16.73, for a total transaction of $25,195.38. Following the sale, the senior vice president now directly owns 409,540 shares of the company’s stock, valued at $6,851,604.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 5,472 shares of company stock valued at $90,871 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Unity Software

A number of hedge funds have recently made changes to their positions in the stock. Capital Impact Advisors LLC acquired a new stake in Unity Software during the 2nd quarter worth approximately $440,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Unity Software by 163.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,241 shares of the company’s stock worth $36,000 after buying an additional 1,389 shares in the last quarter. Creative Planning lifted its holdings in Unity Software by 111.7% during the 2nd quarter. Creative Planning now owns 135,195 shares of the company’s stock worth $2,198,000 after buying an additional 71,325 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Unity Software by 127.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 330,160 shares of the company’s stock worth $5,368,000 after purchasing an additional 184,922 shares during the last quarter. Finally, Scientech Research LLC lifted its position in shares of Unity Software by 615.3% during the 2nd quarter. Scientech Research LLC now owns 77,785 shares of the company’s stock worth $1,265,000 after purchasing an additional 66,911 shares during the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on U shares. Macquarie lowered their price target on shares of Unity Software from $14.00 to $12.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus lowered their price target on shares of Unity Software from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark lowered their price target on shares of Unity Software from $16.00 to $10.00 and set a “sell” rating on the stock in a report on Friday, August 9th. Wedbush lowered their price target on shares of Unity Software from $33.50 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.46.

Unity Software Trading Up 11.8 %

Shares of Unity Software stock traded up $2.03 during mid-day trading on Thursday, hitting $19.25. The stock had a trading volume of 26,540,934 shares, compared to its average volume of 10,035,404. The firm has a 50-day moving average of $16.29 and a two-hundred day moving average of $20.50. Unity Software has a 12-month low of $13.90 and a 12-month high of $43.54. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. The firm has a market cap of $7.64 billion, a P/E ratio of -8.25 and a beta of 2.25.

Unity Software (NYSE:U) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative net margin of 38.52% and a negative return on equity of 8.78%. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.26) EPS. Sell-side analysts forecast that Unity Software will post -1.86 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.