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

Key Points

• Unity Software experienced a significant spike in options trading, with over 105,000 call options purchased—an increase of 41% from its typical daily volume.
• Analysts have set a consensus target price of $31.20 for Unity Software, which includes ratings ranging from "Strong Buy" to "Sell" across different firms.
• Recently, insiders have sold a total of 1.2 million shares of Unity stock, amounting to approximately $31.4 million in the last 90 days, demonstrating notable activity in the company's stock transactions.

Unity Software Inc. (NYSE:U - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Investors bought 105,932 call options on the stock. Thisrepresentsanincreaseof41% compared to the typical daily volume of 74,878 call options.

Analysts Set New Price Targets

Several research firms have weighed in on U. BTIG Research downgraded Unity Software from a "neutral" rating to a "sell" rating and set a $25.00 price target for the company. in a research note on Wednesday, July 23rd. Stifel Nicolaus lowered their target price on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barclays upped their target price on shares of Unity Software from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Citigroup lifted their price target on shares of Unity Software from $29.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wedbush boosted their price target on shares of Unity Software from $39.00 to $41.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Unity Software has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

Unity Software Stock Performance

Shares of NYSE:U opened at $35.9090 on Thursday. The firm has a fifty day simple moving average of $30.38 and a two-hundred day simple moving average of $24.80. Unity Software has a 52 week low of $15.33 and a 52 week high of $39.72. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $15.17 billion, a P/E ratio of -33.88 and a beta of 2.32.

Unity Software (NYSE:U - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Unity Software had a negative net margin of 24.38% and a negative return on equity of 13.59%. The business had revenue of $440.94 million for the quarter, compared to analysts' expectations of $425.18 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts expect that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In related news, Director Tomer Bar-Zeev sold 250,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.39, for a total value of $6,597,500.00. Following the completion of the transaction, the director owned 2,398,146 shares of the company's stock, valued at approximately $63,287,072.94. This represents a 9.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shlomo Dovrat sold 50,000 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $30.01, for a total value of $1,500,500.00. Following the completion of the sale, the director owned 189,089 shares of the company's stock, valued at $5,674,560.89. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,214,694 shares of company stock worth $31,384,519 in the last 90 days. Company insiders own 3.61% of the company's stock.

Institutional Investors Weigh In On Unity Software

Several institutional investors have recently modified their holdings of U. Cornerstone Planning Group LLC increased 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 valued at $25,000 after purchasing an additional 1,212 shares during the last quarter. CX Institutional bought a new position in Unity Software during the second quarter valued at $25,000. Anderson Financial Strategies LLC purchased a new stake in shares of Unity Software in the fourth quarter valued at $28,000. Banque Transatlantique SA bought a new stake in shares of Unity Software in the 1st quarter worth about $28,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Unity Software in the second quarter worth about $28,000. 73.46% of the stock is owned by institutional investors.

Unity Software Company Profile

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.

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