Unity Software (NYSE:U) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Unity Software Inc. (NYSE:U) shares saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 14,309,981 shares changed hands during trading, an increase of 31% from the previous session’s volume of 10,913,663 shares.The stock last traded at $29.00 and had previously closed at $28.00.

The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The company had revenue of $457.10 million for the quarter, compared to analyst estimates of $433.47 million. Unity Software had a negative return on equity of 11.30% and a negative net margin of 40.47%.

Wall Street Analyst Weigh In

U has been the topic of a number of analyst reports. Macquarie lifted their price objective on Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on Unity Software from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Unity Software from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Unity Software in a research note on Monday, February 3rd. Finally, Barclays increased their price target on shares of Unity Software from $18.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.54.

Insiders Place Their Bets

In related news, CAO Mark Barrysmith sold 1,395 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $21.68, for a total transaction of $30,243.60. Following the transaction, the chief accounting officer now owns 450,881 shares in the company, valued at $9,775,100.08. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Helgason sold 7,860 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $26.45, for a total value of $207,897.00. Following the completion of the sale, the director now owns 10,493 shares of the company’s stock, valued at approximately $277,539.85. This represents a 42.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 679,264 shares of company stock valued at $16,612,383 in the last ninety days. Insiders own 6.30% of the company’s stock.

Institutional Trading of Unity Software

Several institutional investors and hedge funds have recently bought and sold shares of U. Creative Planning raised its holdings in shares of Unity Software by 13.7% in the third quarter. Creative Planning now owns 153,742 shares of the company’s stock valued at $3,478,000 after buying an additional 18,547 shares during the last quarter. Blue Trust Inc. raised its stake in Unity Software by 54.0% during the 3rd quarter. Blue Trust Inc. now owns 4,810 shares of the company’s stock valued at $109,000 after acquiring an additional 1,687 shares during the last quarter. Signaturefd LLC grew its stake in shares of Unity Software by 106.1% in the 3rd quarter. Signaturefd LLC now owns 4,081 shares of the company’s stock valued at $92,000 after purchasing an additional 2,101 shares during the last quarter. Greenleaf Trust acquired a new stake in shares of Unity Software in the 3rd quarter worth $310,000. Finally, International Assets Investment Management LLC raised its holdings in Unity Software by 1,787.9% during the third quarter. International Assets Investment Management LLC now owns 14,839 shares of the company’s stock worth $336,000 after purchasing an additional 14,053 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.

Unity Software Stock Up 3.0 %

The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of -14.04 and a beta of 2.32. The firm has a fifty day moving average price of $22.45 and a 200 day moving average price of $20.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.41 and a current ratio of 2.41.

Unity Software Company Profile

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.