Unity Software Inc. (NYSE:U) Short Interest Update

Key Points

• Unity Software experienced a substantial 30.9% decrease in short interest in September, dropping from 34,140,000 shares to 23,600,000 shares.
• Analysts have given Unity Software a mixed outlook, with target price upgrades from firms like Wedbush and Barclays, while HSBC slightly downgraded their rating to a "hold".
• Insider selling activity has been notable, with David Helgason selling 1,350,000 shares, representing an 18.03% reduction in his position, while SVP Anirma Gupta sold 2,734 shares recently.

Unity Software Inc. (NYSE:U - Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 23,600,000 shares, a decline of 30.9% from the September 15th total of 34,140,000 shares. Based on an average daily volume of 13,080,000 shares, the short-interest ratio is currently 1.8 days. Based on an average daily volume of 13,080,000 shares, the short-interest ratio is currently 1.8 days.

Wall Street Analyst Weigh In

Several research firms recently issued reports on U. Wedbush upped their target price on Unity Software from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. Barclays upped their target price on Unity Software from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Arete Research raised Unity Software to a "hold" rating in a research report on Thursday, October 16th. Morgan Stanley increased their price target on Unity Software from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, HSBC lowered shares of Unity Software from a "buy" rating to a "hold" rating and increased their target price for the stock from $37.50 to $40.80 in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $34.10.

Insider Transactions at Unity Software

In related news, SVP Anirma Gupta sold 2,734 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $37.85, for a total value of $103,481.90. Following the completion of the transaction, the senior vice president owned 175,510 shares of the company's stock, valued at $6,643,053.50. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Helgason sold 1,350,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $44.43, for a total transaction of $59,980,500.00. Following the completion of the transaction, the director directly owned 6,139,173 shares of the company's stock, valued at $272,763,456.39. This trade represents a 18.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,236,951 shares of company stock valued at $95,081,659 in the last ninety days. Corporate insiders own 3.61% of the company's stock.

Institutional Trading of Unity Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Unity Software by 116.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,085 shares of the company's stock worth $570,000 after buying an additional 15,633 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Unity Software during the first quarter worth $433,000. GAMMA Investing LLC grew its stake in shares of Unity Software by 72.5% during the first quarter. GAMMA Investing LLC now owns 2,822 shares of the company's stock worth $55,000 after purchasing an additional 1,186 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Unity Software during the first quarter worth $2,215,000. Finally, Amalgamated Bank grew its stake in shares of Unity Software by 3.0% during the first quarter. Amalgamated Bank now owns 18,132 shares of the company's stock worth $355,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Price Performance

Unity Software stock traded up $1.00 during midday trading on Thursday, reaching $36.25. The company had a trading volume of 8,605,128 shares, compared to its average volume of 12,075,411. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.73 and a quick ratio of 2.73. The firm's fifty day simple moving average is $40.14 and its 200-day simple moving average is $30.45. Unity Software has a 12-month low of $15.33 and a 12-month high of $46.94. The company has a market capitalization of $15.32 billion, a P/E ratio of -34.20 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.01). Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The business had revenue of $440.94 million during the quarter, compared to analysts' expectations of $425.18 million. During the same period last year, the business earned ($0.32) earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Unity Software will post -1.25 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.