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SAN FRANCISCO—Barrysmith Mark, Senior Vice President and Chief Accounting Officer at Unity Software Inc . (NYSE:U), has sold 1,395 shares of common stock in a transaction valued at approximately $30,243. The shares were sold at a price of $21.68 each, according to a recent SEC filing. The transaction comes as Unity’s stock has shown significant momentum, posting a 32% gain over the past six months, according to InvestingPro data.
Following this sale, Mark holds 450,881 shares of Unity Software (ETR:SOWGn). The transaction was conducted under a pre-established Rule 10b5-1 trading plan, which Mark adopted on September 12, 2024. Such plans are often used by company insiders to sell stocks in a manner that avoids concerns about insider trading. With Unity’s earnings report due in 6 days, InvestingPro subscribers can access 10 additional key insights about Unity’s financial health and market position, including detailed analyst forecasts and valuation metrics.
In other recent news, Unity Technologies, a prominent game development platform, has teamed up with Toyota Motor (NYSE:TM) Corporation to develop the Graphical User Interface (NASDAQ:TILE) (GUI) for Toyota’s upcoming in-car Human Machine Interface (HMI). This partnership aims to leverage Unity’s real-time 3D technology to enhance the in-car experience and streamline the development process. The collaboration marks a significant intersection of gaming technology and automotive design, potentially setting a new standard for the in-car user experience.
In analyst news, JMP Securities maintained its Market Perform rating on Unity Software, reflecting a stable outlook for the company. Meanwhile, Morgan Stanley (NYSE:MS) reiterated its Overweight rating and $24.00 price target for Unity Software, expressing optimism about the company’s growth prospects, particularly in its advertising and Create segments.
Unity Software’s management highlighted the company’s unique position in the market, with its game engine software being used to build 3.5 billion apps downloaded monthly. This extensive reach provides Unity with unparalleled data access, which could enhance its competitiveness in the advertising space. The company’s management also discussed the anticipated 2025 launch of a new advertising model expected to significantly impact the company’s Grow business.
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