EU and US could reach trade deal this weekend - Reuters
Tomer Bar-Zeev, a director at Unity Software Inc . (NYSE:U), executed notable stock sales recently, according to a filing with the Securities and Exchange Commission. The company, currently valued at $10.08 billion, has seen its stock surge 44.65% over the past six months, according to InvestingPro data. The transactions, conducted on March 4, involved the sale of 236,337 shares of common stock, generating approximately $5.65 million. The shares were sold at prices ranging from $23.40 to $25.15 per share, with the stock currently trading at $24.62, significantly above its 52-week low of $13.89.
These sales were made under a pre-established Rule 10b5-1 trading plan, which Bar-Zeev adopted on September 6, 2024. Following these transactions, Bar-Zeev retains ownership of 3,161,809 shares indirectly through Agathy Holdings Ltd. The sales reflect a strategic financial decision by Bar-Zeev, whose actions are closely followed by investors for insights into the company’s stock performance.
In other recent news, Unity Software (ETR:SOWGn) has announced its plan to offer $500 million in convertible senior notes due in 2030, with an option for an additional $75 million. The proceeds are intended for repurchasing existing notes and general corporate purposes. This move has prompted concerns among investors about possible share dilution and increased debt levels. UBS analyst Chris Kuntarich has adjusted Unity’s price target to $30, maintaining a Neutral rating, citing cautious optimism and potential growth in Unity’s AI/ML strategies. Meanwhile, Needham has raised its price target to $33, maintaining a Buy rating, based on anticipated improvements in Unity’s Grow business. Stifel analysts have also increased their price target to $35, following Unity’s recent earnings report and upcoming advertising platform update, Vector. These analyst updates reflect a mix of optimism and caution regarding Unity’s strategic initiatives and potential financial performance.
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