Investors Buy High Volume of Call Options on Unity Software (NYSE:U)

Unity Software Inc. (NYSE:U - Get Free Report) saw unusually large options trading on Friday. Traders bought 274,618 call options on the company. This is an increase of 400% compared to the typical daily volume of 54,911 call options.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wedbush downgraded Unity Software from a "strong-buy" rating to a "strong sell" rating in a research note on Wednesday, May 7th. Needham & Company LLC reduced their price objective on Unity Software from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Morgan Stanley reduced their price objective on Unity Software from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group cut their target price on Unity Software from $30.00 to $22.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, JMP Securities reissued a "market perform" rating on shares of Unity Software in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $25.14.

Unity Software Trading Up 0.6%

Unity Software stock traded up $0.15 during mid-day trading on Monday, hitting $26.23. The company's stock had a trading volume of 17,453,661 shares, compared to its average volume of 11,240,244. The company has a 50 day moving average of $20.71 and a 200-day moving average of $22.20. The stock has a market cap of $10.90 billion, a PE ratio of -15.61 and a beta of 2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41. Unity Software has a one year low of $13.90 and a one year high of $30.88.

Unity Software (NYSE:U - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.19. The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $415.77 million. Unity Software had a negative return on equity of 13.40% and a negative net margin of 36.63%. Unity Software's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. On average, research analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Insider Buying and Selling

In other Unity Software news, CAO Mark Barrysmith sold 1,414 shares of Unity Software stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $21.42, for a total value of $30,287.88. Following the sale, the chief accounting officer now owns 480,408 shares of the company's stock, valued at $10,290,339.36. The trade was a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 166,666 shares of Unity Software stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.15, for a total value of $4,191,649.90. Following the completion of the sale, the director now directly owns 2,648,146 shares in the company, valued at approximately $66,600,871.90. The trade was a 5.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,009,705 shares of company stock valued at $22,582,244. Corporate insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Unity Software

Hedge funds have recently bought and sold shares of the business. Cornerstone Planning Group LLC grew its position in shares of Unity Software by 30,300.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 1,212 shares in the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Unity Software during the 4th quarter worth $28,000. Banque Transatlantique SA bought a new position in shares of Unity Software during the 1st quarter worth $28,000. R Squared Ltd bought a new position in shares of Unity Software during the 4th quarter worth $30,000. Finally, Principal Securities Inc. grew its position in shares of Unity Software by 50.5% during the 4th quarter. Principal Securities Inc. now owns 1,422 shares of the company's stock worth $32,000 after buying an additional 477 shares in the last quarter. Institutional investors own 73.46% of the company's stock.

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.