Unity Software (NYSE:U) Shares Gap Up – Here’s What Happened

Unity Software Inc. (NYSE:U)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $19.44, but opened at $20.63. Unity Software shares last traded at $20.01, with a volume of 2,877,309 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Unity Software in a research report on Thursday. Macquarie increased their price objective on shares of Unity Software from $15.00 to $16.00 and gave the stock an “underperform” rating in a research report on Friday, November 8th. Wells Fargo & Company initiated coverage on shares of Unity Software in a research report on Monday, October 28th. They set an “equal weight” rating and a $20.00 price objective for the company. Barclays raised their price target on shares of Unity Software from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Finally, JMP Securities reissued a “market perform” rating on shares of Unity Software in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.81.

Unity Software Trading Up 4.0 %

The stock’s fifty day moving average price is $22.73 and its two-hundred day moving average price is $20.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.41 and a quick ratio of 2.41.

Insider Activity

In related news, CFO Mark Barrysmith sold 1,228 shares of Unity Software stock in a transaction on Monday, December 16th. The shares were sold at an average price of $24.44, for a total transaction of $30,012.32. Following the sale, the chief financial officer now directly owns 453,638 shares in the company, valued at $11,086,912.72. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tomer Bar-Zeev sold 250,000 shares of Unity Software stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $6,255,000.00. Following the sale, the director now owns 3,648,146 shares in the company, valued at $91,276,612.92. This represents a 6.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 681,154 shares of company stock worth $16,639,520. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Unity Software

Several hedge funds and other institutional investors have recently made changes to their positions in U. GAMMA Investing LLC boosted its holdings in Unity Software by 343.8% during the third quarter. GAMMA Investing LLC now owns 1,225 shares of the company’s stock worth $28,000 after buying an additional 949 shares in the last quarter. CWM LLC boosted its holdings in Unity Software by 19.6% during the third quarter. CWM LLC now owns 11,243 shares of the company’s stock worth $254,000 after buying an additional 1,845 shares in the last quarter. Creative Planning boosted its holdings in Unity Software by 13.7% during the third quarter. Creative Planning now owns 153,742 shares of the company’s stock worth $3,478,000 after buying an additional 18,547 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Unity Software by 8.9% during the third quarter. Vontobel Holding Ltd. now owns 30,582 shares of the company’s stock worth $692,000 after buying an additional 2,487 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Unity Software by 61.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,568 shares of the company’s stock worth $533,000 after buying an additional 8,932 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.