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

Unity Software Inc. (NYSE:U - Get Free Report) was the target of some unusual options trading on Thursday. Stock traders bought 144,883 call options on the company. This is an increase of approximately 138% compared to the average volume of 60,973 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley lifted their price objective on Unity Software from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Friday. JMP Securities reaffirmed a "market perform" rating on shares of Unity Software in a research note on Monday, February 3rd. HSBC upgraded Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research report on Friday. Macquarie raised their target price on shares of Unity Software from $15.00 to $16.00 and gave the stock an "underperform" rating in a report on Friday, November 8th. Finally, Barclays upped their price target on shares of Unity Software from $18.00 to $26.00 and gave the company an "equal weight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Unity Software currently has a consensus rating of "Hold" and an average target price of $25.96.

Insider Activity at Unity Software

In other news, Director David Helgason sold 7,860 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total value of $207,897.00. Following the completion of the sale, the director now owns 10,493 shares of the company's stock, valued at approximately $277,539.85. This represents a 42.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Felix The sold 20,000 shares of Unity Software stock in a transaction on Friday, December 6th. The stock was sold at an average price of $27.43, for a total transaction of $548,600.00. Following the completion of the transaction, the senior vice president now owns 391,960 shares in the company, valued at approximately $10,751,462.80. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 762,597 shares of company stock valued at $18,732,374 over the last 90 days. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Software

Large investors have recently made changes to their positions in the business. Norges Bank bought a new position in Unity Software in the 4th quarter worth about $269,320,000. Slate Path Capital LP bought a new position in shares of Unity Software in the fourth quarter worth approximately $62,387,000. Capital International Investors grew its holdings in shares of Unity Software by 10.4% during the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after buying an additional 1,786,032 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Unity Software by 3,843.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,769,948 shares of the company's stock valued at $39,771,000 after acquiring an additional 1,725,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Unity Software by 366.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,936,131 shares of the company's stock worth $43,505,000 after acquiring an additional 1,521,165 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Unity Software Stock Up 1.1 %

U stock traded up $0.31 during midday trading on Friday, hitting $28.31. The stock had a trading volume of 39,793,431 shares, compared to its average volume of 11,738,400. The business has a 50-day moving average of $22.53 and a two-hundred day moving average of $21.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of -13.88 and a beta of 2.32. Unity Software has a 52-week low of $13.90 and a 52-week high of $33.43.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The firm had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million. Unity Software had a negative net margin of 40.47% and a negative return on equity of 11.30%. As a group, equities research analysts forecast that Unity Software will post -1.72 earnings per share for the current fiscal 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.