Unity Software (NYSE:U) Shares Gap Up – Here’s Why

Unity Software Inc. (NYSE:U) gapped up prior to trading on Thursday . The stock had previously closed at $22.47, but opened at $25.18. Unity Software shares last traded at $25.88, with a volume of 12,655,278 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on U. Benchmark upped their price objective on Unity Software from $10.00 to $15.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Needham & Company LLC increased their price target on Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Wedbush lifted their price objective on Unity Software from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. Finally, Stifel Nicolaus lifted their price target on shares of Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.21.

Unity Software Stock Down 1.7 %

The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -11.81 and a beta of 2.33. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $22.74 and its two-hundred day moving average is $19.61.

Insider Activity

In other Unity Software news, CFO Mark Barrysmith sold 1,228 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the transaction, the chief financial officer now owns 453,638 shares of the company’s stock, valued at $11,086,912.72. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tomer Bar-Zeev sold 250,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total value of $6,255,000.00. Following the sale, the director now owns 3,648,146 shares of the company’s stock, valued at approximately $91,276,612.92. The trade was a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 762,669 shares of company stock valued at $17,480,869 over the last quarter. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Unity Software by 33.6% during the 4th quarter. GAMMA Investing LLC now owns 1,636 shares of the company’s stock valued at $37,000 after purchasing an additional 411 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Unity Software by 4.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 13,947 shares of the company’s stock valued at $315,000 after buying an additional 538 shares during the last quarter. Tidal Investments LLC grew its position in shares of Unity Software by 4.9% during the third quarter. Tidal Investments LLC now owns 15,410 shares of the company’s stock worth $349,000 after buying an additional 723 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Unity Software by 28.7% in the third quarter. Venturi Wealth Management LLC now owns 3,923 shares of the company’s stock worth $89,000 after buying an additional 876 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in Unity Software by 8.2% during the 2nd quarter. Intech Investment Management LLC now owns 13,270 shares of the company’s stock valued at $216,000 after acquiring an additional 1,010 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.