Unity Software Inc. (NYSE:U) Short Interest Update

Unity Software Inc. (NYSE:U – Get Rating) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 22,900,000 shares, an increase of 27.5% from the May 31st total of 17,960,000 shares. Approximately 12.5% of the shares of the company are sold short. Based on an average daily trading volume, of 7,290,000 shares, the short-interest ratio is currently 3.1 days.

Shares of NYSE:U traded up $2.29 during midday trading on Tuesday, reaching $39.83. The company had a trading volume of 141,312 shares, compared to its average volume of 7,470,724. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 0.72. Unity Software has a 1-year low of $29.09 and a 1-year high of $210.00. The company has a fifty day simple moving average of $44.50 and a two-hundred day simple moving average of $84.10.

Unity Software (NYSE:U – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $320.13 million during the quarter, compared to the consensus estimate of $321.17 million. Unity Software had a negative return on equity of 20.50% and a negative net margin of 50.40%. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.38) EPS. Sell-side analysts forecast that Unity Software will post -1.65 earnings per share for the current year.

In related news, Director David Helgason sold 2,407 shares of Unity Software stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $46.29, for a total value of $111,420.03. Following the transaction, the director now directly owns 5,322 shares in the company, valued at approximately $246,355.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Marc Whitten sold 3,433 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $65.54, for a total transaction of $224,998.82. Following the sale, the senior vice president now owns 270,798 shares in the company, valued at $17,748,100.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,338 shares of company stock worth $2,394,305. 6.90% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC grew its stake in shares of Unity Software by 2,365.2% during the first quarter. Clearbridge Investments LLC now owns 4,420,370 shares of the company’s stock worth $438,545,000 after purchasing an additional 4,241,060 shares during the period. Vanguard Group Inc. raised its holdings in Unity Software by 17.2% during the first quarter. Vanguard Group Inc. now owns 17,279,116 shares of the company’s stock worth $1,714,261,000 after acquiring an additional 2,531,507 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Unity Software during the fourth quarter worth about $224,246,000. Norges Bank bought a new stake in Unity Software during the fourth quarter worth about $221,021,000. Finally, SC US Ttgp LTD. raised its stake in Unity Software by 5.5% in the first quarter. SC US Ttgp LTD. now owns 24,652,204 shares of the company’s stock valued at $2,445,745,000 after buying an additional 1,290,472 shares during the period. Institutional investors and hedge funds own 75.48% of the company’s stock.

Several research analysts have recently issued reports on the company. Benchmark assumed coverage on Unity Software in a research note on Wednesday, June 15th. They set a “sell” rating and a $27.00 price target for the company. Stifel Nicolaus cut their price target on Unity Software from $150.00 to $100.00 in a research note on Wednesday, May 11th. BTIG Research cut their price target on Unity Software from $110.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Credit Suisse Group cut their price target on Unity Software from $137.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, June 21st. Finally, Wedbush cut their price target on Unity Software from $125.00 to $70.00 in a research note on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.79.

Unity Software Company Profile (Get Rating)

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.

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