EU and US could reach trade deal this weekend - Reuters
In a recent filing with the Securities and Exchange Commission, Unity Software Inc . (NYSE:U) disclosed that Director Tomer Bar-Zeev sold 13,663 shares of common stock, amounting to a total value of approximately $341,848. The shares were sold at a weighted average price of $25.02, with individual transaction prices ranging from $25.00 to $25.12. The sale comes as Unity’s stock has shown significant momentum, with a 60% surge over the past six months, according to InvestingPro data. The company, currently valued at $9.5 billion, trades below its Fair Value based on comprehensive analysis.
Following this transaction, Bar-Zeev holds 3,148,146 shares indirectly through Agathy Holdings Ltd., a company where both he and his spouse, Yuli Bar-Zeev, serve as directors. Additionally, Bar-Zeev directly owns 757,650 shares of Unity Software (ETR:SOWGn).
The sales were conducted under a Rule 10b5-1 trading plan, which Bar-Zeev adopted on September 6, 2024. This type of plan allows insiders of publicly traded corporations to set up a predetermined schedule for selling stocks to avoid potential accusations of insider trading.
In other recent news, Unity Software has announced plans to offer $500 million in convertible senior notes due in 2030, with an option for an additional $75 million. The company intends to use the proceeds to repurchase its existing 0% Convertible Senior Notes due in 2026 and for general corporate purposes. This move has raised investor concerns about potential share dilution and increased debt levels. Meanwhile, analysts have been adjusting their outlooks on Unity Software. UBS raised its price target for Unity to $30, maintaining a Neutral rating, citing cautious optimism about the company’s AI/ML strategy and the adoption of Unity 6. Needham increased its price target to $33 with a Buy rating, reflecting expectations of a turnaround in Unity’s Grow business. Stifel also raised its price target to $35, reaffirming a Buy rating and expressing confidence in Unity’s upcoming advertising platform update, Vector. These recent developments have investors closely watching Unity’s strategic moves and financial forecasts.
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