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 target of some unusual options trading activity on Thursday. Traders bought 105,932 call options on the stock. Thisrepresentsanincreaseof41% compared to the typical daily volume of 74,878 call options.

Insider Buying and Selling at Unity Software

In other news, SVP Anirma Gupta sold 10,819 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $39.32, for a total transaction of $425,403.08. Following the transaction, the senior vice president directly owned 630,749 shares in the company, valued at $24,801,050.68. The trade was a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shlomo Dovrat sold 50,000 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $30.01, for a total transaction of $1,500,500.00. Following the transaction, the director owned 189,089 shares in the company, valued at approximately $5,674,560.89. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 987,508 shares of company stock worth $27,294,991 over the last 90 days. 3.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional acquired a new position in Unity Software during the 2nd quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new position in Unity Software during the 2nd quarter worth $28,000. Cornerstone Planning Group LLC lifted its position in 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 acquiring an additional 1,212 shares during the last quarter. Anderson Financial Strategies LLC acquired a new position in Unity Software during the 4th quarter worth $28,000. Finally, Banque Transatlantique SA acquired a new position in Unity Software during the 1st quarter worth $28,000. Institutional investors and hedge funds own 73.46% of the company's stock.

Unity Software Stock Performance

Unity Software stock traded up $0.22 on Tuesday, reaching $40.05. 12,797,342 shares of the stock were exchanged, compared to its average volume of 14,610,714. The stock has a market cap of $16.92 billion, a PE ratio of -37.78 and a beta of 2.32. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.70. Unity Software has a twelve month low of $15.33 and a twelve month high of $40.88. The firm has a fifty day moving average price of $31.55 and a two-hundred day moving average price of $25.31.

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). The firm had revenue of $440.94 million for the quarter, compared to analyst estimates of $425.18 million. Unity Software had a negative return on equity of 13.59% and a negative net margin of 24.38%.The firm's revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS. Sell-side analysts anticipate that Unity Software will post -1.25 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on U shares. Jefferies Financial Group boosted their price target on shares of Unity Software from $29.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wedbush lifted their price objective on shares of Unity Software from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Needham & Company LLC lifted their price objective on shares of Unity Software from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their price objective on shares of Unity Software from $24.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus reduced their price objective on shares of Unity Software from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Unity Software currently has an average rating of "Moderate Buy" and a consensus price target of $31.20.

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.