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

Unity Software Inc. (NYSE:U) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 97,830 call options on the company. This represents an increase of approximately 56% compared to the average volume of 62,520 call options.

Analyst Ratings Changes

Several research analysts have issued reports on U shares. Oppenheimer reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, October 18th. Wells Fargo & Company initiated coverage on shares of Unity Software in a research note on Monday, October 28th. They issued an “equal weight” rating and a $20.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. The Goldman Sachs Group reduced their price target 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. Finally, Morgan Stanley upgraded Unity Software from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.35.

Insider Buying and Selling

In other Unity Software news, Director Tomer Bar-Zeev sold 250,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the sale, the director now directly owns 4,248,146 shares of the company’s stock, valued at approximately $74,427,517.92. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shlomo Dovrat sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $17.99, for a total value of $67,462.50. Following the completion of the transaction, the director now directly owns 2,394,935 shares in the company, valued at approximately $43,084,880.65. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 534,550 shares of company stock worth $10,148,127 in the last quarter. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Unity Software

Hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC purchased a new stake in shares of Unity Software during the 2nd quarter valued at about $2,535,000. CIBC Asset Management Inc raised its stake in shares of Unity Software by 2,665.4% during the third quarter. CIBC Asset Management Inc now owns 342,472 shares of the company’s stock valued at $7,747,000 after purchasing an additional 330,088 shares during the period. Vanguard Group Inc. lifted its position in shares of Unity Software by 0.8% during the first quarter. Vanguard Group Inc. now owns 26,336,775 shares of the company’s stock worth $703,192,000 after purchasing an additional 208,566 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Unity Software in the third quarter valued at $611,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Unity Software by 187.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 353,516 shares of the company’s stock valued at $9,440,000 after purchasing an additional 230,696 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Trading Up 4.1 %

U stock opened at $22.52 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70. The company has a market cap of $9.07 billion, a price-to-earnings ratio of -11.04 and a beta of 2.29. The business has a fifty day simple moving average of $20.91 and a 200-day simple moving average of $18.69. Unity Software has a 52 week low of $13.90 and a 52 week high of $43.54.

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.