Unity Software (NYSE:U) Stock Sees Heavy Call Option Buying

Unity Software Inc. (NYSE:U) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 85,749 call options on the company. This is an increase of 196% compared to the typical volume of 28,980 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on U shares. Weiss Ratings upgraded Unity Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Citizens Jmp raised their price target on shares of Unity Software from $37.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Unity Software in a research note on Thursday, October 8th. Bank of America upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $50.00 in a report on Friday, August 7th. Finally, Wedbush boosted their price objective on shares of Unity Software from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Unity Software has a consensus rating of “Moderate Buy” and a consensus target price of $47.05.

Unity Software Stock Up 0.1%

U stock traded up $0.05 during mid-day trading on Tuesday, reaching $46.73. The company had a trading volume of 3,257,117 shares, compared to its average volume of 12,751,882. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of -34.33, a PEG ratio of 2.05 and a beta of 2.11. Unity Software has a 52 week low of $16.78 and a 52 week high of $52.15. The stock has a 50 day simple moving average of $43.23 and a two-hundred day simple moving average of $32.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.03 and a quick ratio of 2.03.

Unity Software (NYSE:U) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.39. The company had revenue of $546.47 million for the quarter, compared to analysts’ expectations of $514.72 million. Unity Software had a positive return on equity of 4.64% and a negative net margin of 28.97%. The business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, equities analysts predict that Unity Software will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at Unity Software

In other Unity Software news, CEO Matthew Bromberg sold 16,383 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $45.31, for a total value of $742,313.73. Following the sale, the chief executive officer owned 1,541,131 shares of the company’s stock, valued at $69,828,645.61. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jarrod Yahes sold 26,017 shares of Unity Software stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $45.31, for a total value of $1,178,830.27. Following the completion of the sale, the chief financial officer directly owned 678,343 shares in the company, valued at $30,735,721.33. This represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 109,547 shares of company stock worth $4,884,202 in the last 90 days. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Unity Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atreides Management LP bought a new position in shares of Unity Software in the 2nd quarter valued at about $292,826,000. Resolute Advisors LLC raised its holdings in shares of Unity Software by 473.3% in the 2nd quarter. Resolute Advisors LLC now owns 4,766,219 shares of the company’s stock valued at $136,219,000 after purchasing an additional 3,934,840 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Unity Software in the 1st quarter valued at about $54,534,000. Avala Global LP bought a new stake in shares of Unity Software in the 2nd quarter valued at about $62,522,000. Finally, Dimensional Fund Advisors LP lifted its stake in Unity Software by 52.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,014 shares of the company’s stock valued at $93,089,000 after purchasing an additional 1,465,962 shares during the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Company Profile

Unity Software Inc develops software and services for creating, operating and monetizing interactive, real-time 2D and 3D content. Its platform is widely used to build video games for mobile devices, personal computers, consoles and the web, as well as applications for industries such as automotive, architecture, engineering, construction, manufacturing and entertainment.

The company’s core offering is the Unity development platform, which includes tools for graphics, physics, animation, audio, scripting and cross-platform deployment.