Traders Buy High Volume of Call Options on Unity Software (NYSE:U)

Unity Software Inc. (NYSE:U) saw some unusual options trading activity on Thursday. Traders bought 97,389 call options on the company. This is an increase of 43% compared to the average daily volume of 67,962 call options.

Insider Buying and Selling at Unity Software

In other news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $17.52, for a total transaction of $4,380,000.00. Following the completion of the sale, the director now directly owns 4,248,146 shares in the company, valued at $74,427,517.92. The trade was a 5.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Felix The sold 20,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $27.43, for a total value of $548,600.00. Following the completion of the sale, the senior vice president now directly owns 391,960 shares of the company’s stock, valued at $10,751,462.80. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,669 shares of company stock valued at $11,225,869. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unity Software

Several hedge funds have recently made changes to their positions in U. Bank of New York Mellon Corp boosted its holdings in Unity Software by 40.6% during the second quarter. Bank of New York Mellon Corp now owns 1,471,671 shares of the company’s stock worth $23,929,000 after purchasing an additional 424,806 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Unity Software by 60.2% during the 2nd quarter. CIBC Asset Management Inc now owns 12,384 shares of the company’s stock worth $201,000 after purchasing an additional 4,656 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Unity Software by 287.5% during the 2nd quarter. Foundations Investment Advisors LLC now owns 63,692 shares of the company’s stock worth $1,036,000 after purchasing an additional 47,255 shares in the last quarter. Arizona State Retirement System increased its holdings in Unity Software by 9.2% during the second quarter. Arizona State Retirement System now owns 74,212 shares of the company’s stock worth $1,207,000 after buying an additional 6,272 shares during the last quarter. Finally, Flynn Zito Capital Management LLC raised its position in Unity Software by 84.7% during the second quarter. Flynn Zito Capital Management LLC now owns 14,692 shares of the company’s stock worth $239,000 after acquiring an additional 6,738 shares in the last quarter. 73.46% of the stock is owned by institutional investors.

Unity Software Stock Up 6.7 %

Shares of NYSE:U traded up $1.50 during mid-day trading on Thursday, reaching $23.97. 22,818,349 shares of the stock were exchanged, compared to its average volume of 10,570,207. The stock’s 50 day simple moving average is $22.57 and its 200-day simple moving average is $19.52. Unity Software has a one year low of $13.90 and a one year high of $39.29. The company has a market cap of $9.66 billion, a P/E ratio of -11.75 and a beta of 2.33. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

U has been the subject of a number of research reports. Needham & Company LLC raised their price target on shares of Unity Software from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 8th. JMP Securities restated a “market perform” rating on shares of Unity Software in a report on Friday, September 13th. UBS Group lifted their target price on shares of Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Oppenheimer reaffirmed a “market perform” rating on shares of Unity Software in a research note on Friday, October 18th. Finally, Wedbush lifted their price objective on shares of Unity Software from $21.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Unity Software presently has an average rating of “Hold” and a consensus price target of $22.21.

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.