Unity Software (NYSE:U) Sees Unusually-High Trading Volume – Here’s Why

Unity Software Inc. (NYSE:U) saw an uptick in trading volume on Friday . 31,898,925 shares traded hands during mid-day trading, an increase of 263% from the previous session’s volume of 8,795,304 shares.The stock last traded at $30.1490 and had previously closed at $38.40.

Analyst Ratings Changes

A number of equities analysts have weighed in on U shares. Wells Fargo & Company lifted their price target on shares of Unity Software from $51.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. UBS Group raised their price objective on Unity Software from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Citigroup lifted their price objective on Unity Software from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Needham & Company LLC raised their price target on shares of Unity Software from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a research report on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Unity Software has an average rating of “Moderate Buy” and a consensus price target of $45.27.

Unity Software Price Performance

The business’s 50 day moving average price is $44.18 and its 200-day moving average price is $40.25. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The company has a market cap of $13.07 billion, a PE ratio of -29.09, a price-to-earnings-growth ratio of 42.10 and a beta of 2.04.

Unity Software (NYSE:U) last announced its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Unity Software had a negative net margin of 24.15% and a negative return on equity of 9.45%. The business had revenue of $470.62 million during the quarter, compared to the consensus estimate of $452.87 million. During the same period in the prior year, the firm earned ($0.31) earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Unity Software Inc. will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $37.98, for a total value of $9,495,000.00. Following the completion of the sale, the director owned 1,298,146 shares in the company, valued at approximately $49,303,585.08. The trade was a 16.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alexander Blum sold 40,693 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $41.38, for a total transaction of $1,683,876.34. Following the completion of the sale, the chief operating officer directly owned 563,118 shares of the company’s stock, valued at $23,301,822.84. The trade was a 6.74% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,647,935 shares of company stock valued at $75,174,498. Insiders own 3.61% of the company’s stock.

Hedge Funds Weigh In On Unity Software

Several institutional investors have recently made changes to their positions in U. Root Financial Partners LLC bought a new stake in shares of Unity Software in the 3rd quarter worth approximately $27,000. Atlantic Union Bankshares Corp acquired a new stake in Unity Software in the second quarter worth $28,000. Larson Financial Group LLC lifted its stake in Unity Software by 88.1% in the third quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock valued at $29,000 after buying an additional 341 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Unity Software during the fourth quarter valued at $30,000. Finally, IFP Advisors Inc bought a new position in shares of Unity Software during the third quarter worth about $33,000. 73.46% of the stock is owned by institutional investors.

Unity Software Company Profile

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.