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

Unity Software Inc. (NYSE:U – Get Rating) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 34,180,000 shares, an increase of 46.8% from the June 30th total of 23,290,000 shares. Approximately 18.6% of the shares of the company are short sold. Based on an average daily volume of 10,160,000 shares, the days-to-cover ratio is presently 3.4 days.

Insider Activity at Unity Software

In related news, CFO Luis Felipe Visoso sold 33,804 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $38.17, for a total transaction of $1,290,298.68. Following the sale, the chief financial officer now directly owns 324,145 shares in the company, valued at approximately $12,372,614.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Unity Software news, CFO Luis Felipe Visoso sold 33,804 shares of the company’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $38.17, for a total value of $1,290,298.68. Following the transaction, the chief financial officer now directly owns 324,145 shares in the company, valued at approximately $12,372,614.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Whitten sold 3,433 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $65.54, for a total value of $224,998.82. Following the completion of the transaction, 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. In the last three months, insiders have sold 59,338 shares of company stock worth $2,394,305. 6.90% of the stock is owned by company insiders.

Institutional Trading of Unity Software

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Several institutional investors have recently added to or reduced their stakes in the business. Freemont Management SA increased its stake in Unity Software by 446.7% during the 2nd quarter. Freemont Management SA now owns 398,000 shares of the company’s stock valued at $14,654,000 after purchasing an additional 325,200 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Unity Software by 230.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,914 shares of the company’s stock valued at $557,000 after purchasing an additional 10,407 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Unity Software by 252.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 81,537 shares of the company’s stock valued at $3,002,000 after purchasing an additional 58,401 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Unity Software by 235.1% in the 2nd quarter. Arizona State Retirement System now owns 53,352 shares of the company’s stock worth $1,964,000 after buying an additional 37,429 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Unity Software by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 9,822 shares of the company’s stock worth $357,000 after buying an additional 1,480 shares during the last quarter. 75.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equity analysts have recently issued reports on U shares. Robert W. Baird cut Unity Software from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 13th. Credit Suisse Group cut their price objective on Unity Software from $137.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, June 21st. Jefferies Financial Group cut their price objective on Unity Software from $40.00 to $36.00 in a report on Thursday, June 16th. DA Davidson dropped their target price on Unity Software from $85.00 to $60.00 in a report on Thursday, July 14th. Finally, BTIG Research dropped their target price on Unity Software from $110.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.13.

Unity Software Stock Down 0.5%

Shares of NYSE:U traded down $0.18 during trading on Friday, hitting $37.39. The stock had a trading volume of 6,248,584 shares, compared to its average volume of 6,927,297. Unity Software has a 12 month low of $29.09 and a 12 month high of $210.00. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $11.07 billion, a PE ratio of -17.80 and a beta of 2.37. The firm’s fifty day moving average is $38.91 and its 200 day moving average is $71.37.

Unity Software (NYSE:U – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.04). Unity Software had a negative net margin of 50.40% and a negative return on equity of 20.50%. The company had revenue of $320.13 million for the quarter, compared to the consensus estimate of $321.17 million. During the same period last year, the business earned ($0.38) EPS. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. Analysts anticipate that Unity Software will post -1.68 EPS for the current fiscal year.

Unity Software Company Profile

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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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