Unity Software Target of Unusually High Options Trading (NYSE:U)
by Sarita Garza · The Markets DailyUnity Software Inc. (NYSE:U – Get Free Report) was the target of some unusual options trading activity on Thursday. Traders purchased 41,488 call options on the stock. This is an increase of approximately 30% compared to the typical volume of 31,961 call options.
Unity Software Stock Up 14.3%
U traded up $5.08 on Thursday, hitting $40.55. The company had a trading volume of 18,583,105 shares, compared to its average volume of 13,392,112. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $17.70 billion, a P/E ratio of -25.88, a P/E/G ratio of 4.17 and a beta of 2.04. The stock has a fifty day simple moving average of $29.67 and a 200-day simple moving average of $26.57. Unity Software has a 52-week low of $16.78 and a 52-week high of $52.15.
Unity Software (NYSE:U – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. Unity Software had a negative return on equity of 1.30% and a negative net margin of 34.99%.The firm had revenue of $546.47 million for the quarter, compared to the consensus estimate of $514.72 million. During the same period last year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, equities analysts expect that Unity Software will post 0.35 EPS for the current fiscal year.
Insider Buying and Selling at Unity Software
In other Unity Software news, CFO Jarrod Yahes sold 24,021 shares of Unity Software stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total transaction of $652,890.78. Following the completion of the transaction, the chief financial officer owned 704,360 shares in the company, valued at approximately $19,144,504.80. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Matthew S. Bromberg sold 138,993 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $27.18, for a total value of $3,777,829.74. Following the completion of the transaction, the chief executive officer owned 1,557,514 shares in the company, valued at $42,333,230.52. The trade was a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 198,321 shares of company stock worth $5,390,783 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Unity Software
Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Unity Software in the 1st quarter valued at about $54,534,000. Entropy Technologies LP acquired a new position in shares of Unity Software during the first quarter valued at $1,985,000. Massachusetts Financial Services Co. MA lifted its stake in Unity Software by 9.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,905,820 shares of the company’s stock valued at $128,350,000 after purchasing an additional 252,648 shares during the last quarter. FengHe Fund Management Pte. Ltd. boosted its holdings in Unity Software by 287.0% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,732,002 shares of the company’s stock worth $76,503,000 after purchasing an additional 1,284,400 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Unity Software by 511.9% during the fourth quarter. KBC Group NV now owns 51,960 shares of the company’s stock valued at $2,295,000 after purchasing an additional 43,468 shares during the period. Institutional investors and hedge funds own 73.46% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on U shares. Wells Fargo & Company upped their target price on shares of Unity Software from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Citigroup dropped their price target on Unity Software from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. BTIG Research raised their target price on shares of Unity Software from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Unity Software from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Barclays lifted their price target on Unity Software from $28.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.49.
Read Our Latest Report on Unity Software
About Unity Software
Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.
The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.