Unity Software (NYSE:U) Sees Large Volume Increase After Strong Earnings

Unity Software Inc. (NYSE:U - Get Free Report) shares saw unusually-strong trading volume on Friday following a stronger than expected earnings report. Approximately 14,309,981 shares traded hands during mid-day trading, an increase of 31% from the previous session's volume of 10,913,663 shares.The stock last traded at $29.00 and had previously closed at $28.00.

The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. The business had revenue of $457.10 million for the quarter, compared to the consensus estimate of $433.47 million.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group upped their target price on Unity Software from $23.00 to $28.00 and gave the company a "hold" rating in a research note on Friday. UBS Group raised their price objective on shares of Unity Software from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Hsbc Global Res raised shares of Unity Software to a "strong-buy" rating in a research note on Friday. HSBC upgraded shares of Unity Software from a "hold" rating to a "buy" rating and set a $34.00 price target for the company in a research note on Friday. Finally, Benchmark raised Unity Software from a "sell" rating to a "hold" rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Unity Software currently has a consensus rating of "Hold" and a consensus target price of $25.96.

Insiders Place Their Bets

In other Unity Software news, Director David Helgason sold 7,860 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $26.45, for a total value of $207,897.00. Following the transaction, the director now directly owns 10,493 shares in the company, valued at approximately $277,539.85. This trade represents a 42.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Felix The sold 20,000 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the sale, the senior vice president now owns 391,960 shares of the company's stock, 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. Over the last quarter, insiders have sold 742,766 shares of company stock valued at $18,248,777. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Unity Software by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 31,123,035 shares of the company's stock valued at $699,335,000 after purchasing an additional 625,872 shares during the period. Capital International Investors boosted its stake in Unity Software by 10.4% in the fourth quarter. Capital International Investors now owns 18,886,853 shares of the company's stock valued at $424,388,000 after acquiring an additional 1,786,032 shares during the last quarter. Norges Bank acquired a new stake in Unity Software during the 4th quarter worth $269,320,000. Geode Capital Management LLC raised its position in shares of Unity Software by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,769,609 shares of the company's stock valued at $107,208,000 after acquiring an additional 84,480 shares during the last quarter. Finally, Slate Path Capital LP acquired a new position in shares of Unity Software in the 4th quarter valued at $62,387,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Unity Software Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50-day moving average price of $22.58 and a 200-day moving average price of $21.27. The firm has a market capitalization of $10.34 billion, a P/E ratio of -15.28 and a beta of 2.32.

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.