Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Unity Software Inc shares valued at $53,160 were sold by Carpenter Carol W. on Apr 01 ’24. At $26.58 per share, Carpenter Carol W. sold 2,000 shares. The insider’s holdings dropped to 444,617 shares worth approximately $11.58 million following the completion of this transaction.
Also, Gupta Anirma sold 927 shares, netting a total of over 24,964 in proceeds. Following the sale of shares at $26.93 each, the insider now holds 387,743 shares.
Before that, The Felix had sold 5,000 shares from its account. In a trade valued at $136,400, the SVP Product & Technology, Grow traded Unity Software Inc shares for $27.28 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $7.66 million.
As published in a research note from Piper Sandler on February 27, 2024, Unity Software Inc [U] has been rated up from an Underweight to a Neutral and the price target has been revised to $30 from $35. Analysts at Macquarie downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid February. As of January 02, 2024, Piper Sandler has decreased its “Neutral” rating to a “an Underweight” for U. Earlier on December 18, 2023, HSBC Securities initiated its rating. Their recommendation was “a Hold” for U stock.
Analyzing U Stock Performance
During the last five days, there has been a surge of approximately 2.88%. Over the course of the year, Unity Software Inc shares have dropped approximately -36.29%. Shares of the company reached a 52-week high of $40.67 on 01/02/24 and a 52-week low of $24.89 on 04/05/24. A 50-day SMA is recorded $29.02, while a 200-day SMA reached $33.46. Nevertheless, trading volume fell to 4.36 million shares from 5.23 million shares the previous day.
Support And Resistance Levels for Unity Software Inc (U)
According to the 24-hour chart, there is a support level at 25.72, which, if violated, would cause prices to drop to 25.38. In the upper region, resistance lies at 26.47. The next price resistance is at 26.88. RSI (Relative Strength Index) is 42.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.02, which suggests the price will decrease in the coming days. Percent R is at 60.81%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Unity Software Inc subject to short interest?
Stocks of Unity Software Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.12 million shares to 32.84 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 32.96 million shares. A decline of -0.37% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.59 of the overall float, the days-to-cover ratio (short ratio) decline to 2.59.
