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

Unity Software Inc. (NYSE:U) was the recipient of unusually large options trading on Thursday. Stock traders bought 149,477 call options on the company. This represents an increase of approximately 181% compared to the typical daily volume of 53,134 call options.

Insider Transactions at Unity Software

In related news, CEO Matthew S. Bromberg sold 133,072 shares of the stock in a transaction dated 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 owned 1,222,812 shares in the company, valued at $25,972,526.88. This trade represents a 9.81% decrease in their position. The sale 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 stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $21.24, for a total transaction of $997,366.68. Following the sale, the senior vice president owned 644,952 shares of the company’s stock, valued at $13,698,780.48. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,127,944 shares of company stock valued at $27,166,375 in the last ninety days. 3.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Unity Software by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 32,964,521 shares of the company’s stock worth $645,775,000 after purchasing an additional 1,841,486 shares in the last quarter. Capital International Investors increased its holdings in Unity Software by 10.4% in the 4th quarter. Capital International Investors now owns 18,886,853 shares of the company’s stock worth $424,388,000 after acquiring an additional 1,786,032 shares in the last quarter. Norges Bank purchased a new stake in Unity Software in the 4th quarter worth approximately $269,320,000. Atreides Management LP increased its holdings in Unity Software by 146.7% in the 1st quarter. Atreides Management LP now owns 9,430,955 shares of the company’s stock worth $184,752,000 after acquiring an additional 5,607,572 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Unity Software by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company’s stock worth $107,208,000 after acquiring an additional 84,480 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Unity Software from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Stifel Nicolaus reduced their price objective on Unity Software from $35.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Jefferies Financial Group upgraded Unity Software from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $29.00 in a report on Friday, May 30th. Needham & Company LLC cut their price target on Unity Software from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Wedbush upgraded shares of Unity Software to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and an average price target of $24.47.

Unity Software Price Performance

Shares of Unity Software stock opened at $26.14 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.74 and a quick ratio of 2.74. The business’s 50 day simple moving average is $23.21 and its two-hundred day simple moving average is $22.32. The stock has a market capitalization of $10.86 billion, a P/E ratio of -23.33 and a beta of 2.29. Unity Software has a one year low of $13.90 and a one year high of $30.88.

Unity Software (NYSE:U) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. Analysts forecast that Unity Software will post -1.25 EPS for the current year.

About Unity Software

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.