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

Unity Software Inc. (NYSE:U) was the target of some unusual options trading activity on Thursday. Investors acquired 68,215 call options on the company. This represents an increase of 86% compared to the average daily volume of 36,711 call options.

Unity Software Trading Up 7.1 %

NYSE:U traded up $1.09 on Thursday, reaching $16.47. The stock had a trading volume of 11,555,163 shares, compared to its average volume of 9,486,976. The company has a market cap of $6.44 billion, a price-to-earnings ratio of -7.33 and a beta of 2.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s fifty day moving average is $18.80 and its two-hundred day moving average is $26.36. Unity Software has a 12-month low of $15.15 and a 12-month high of $50.08.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.13. The business had revenue of $460.38 million for the quarter, compared to analyst estimates of $422.53 million. Unity Software had a negative net margin of 40.11% and a negative return on equity of 7.73%. Equities analysts expect that Unity Software will post -1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on U shares. Wedbush reiterated an “outperform” rating and issued a $33.50 price target on shares of Unity Software in a research report on Friday, May 10th. Stifel Nicolaus reduced their price target on shares of Unity Software from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, June 10th. JMP Securities reiterated a “market perform” rating on shares of Unity Software in a research report on Friday, May 10th. Benchmark reissued a “sell” rating and issued a $16.00 price objective on shares of Unity Software in a research note on Friday, May 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of Unity Software from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.47.

Insider Buying and Selling at Unity Software

In other Unity Software news, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $24.42, for a total transaction of $25,323.54. Following the completion of the sale, the senior vice president now directly owns 386,706 shares in the company, valued at $9,443,360.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Anirma Gupta sold 1,037 shares of Unity Software stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $24.42, for a total value of $25,323.54. Following the completion of the transaction, the senior vice president now owns 386,706 shares in the company, valued at $9,443,360.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc Whitten sold 86,768 shares of Unity Software stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.60, for a total transaction of $1,787,420.80. Following the completion of the transaction, the insider now owns 2,483 shares of the company’s stock, valued at approximately $51,149.80. The disclosure for this sale can be found here. Insiders sold a total of 245,736 shares of company stock worth $4,832,120 over the last three months. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of U. Norges Bank purchased a new position in Unity Software in the fourth quarter valued at approximately $379,180,000. Capital International Investors grew its position in Unity Software by 426.1% in the first quarter. Capital International Investors now owns 7,872,413 shares of the company’s stock valued at $210,193,000 after acquiring an additional 6,376,034 shares in the last quarter. Capital Research Global Investors grew its position in Unity Software by 510.2% in the fourth quarter. Capital Research Global Investors now owns 7,181,661 shares of the company’s stock valued at $293,658,000 after acquiring an additional 6,004,655 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Unity Software by 32.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 11,326,547 shares of the company’s stock valued at $302,419,000 after acquiring an additional 2,787,058 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Unity Software by 30.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,509 shares of the company’s stock valued at $317,984,000 after acquiring an additional 2,777,884 shares in the last quarter. Hedge funds and other 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.