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Barrysmith Mark, the Chief Accounting Officer of Unity Software Inc . (NYSE:U), recently reported a series of stock sales amounting to a total of $305,554. The transactions, detailed in a recent SEC filing, took place on February 25. The sale comes as Unity, currently valued at $11.1 billion, has seen its stock surge nearly 20% in the past week. According to InvestingPro analysis, the company’s stock is currently trading near its Fair Value. Mark sold a total of 12,019 shares of Unity Software (ETR:SOWGn) at prices ranging from $25.06 to $26.74 per share.
The sales were carried out to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. Following these transactions, Mark holds 438,862 shares of Unity Software.
In other recent news, Unity Software announced plans to offer $500 million in convertible senior notes due in 2030, with an option for an additional $75 million. The proceeds are earmarked for repurchasing existing notes due in 2026 and general corporate purposes, including potential acquisitions. This move has raised concerns among investors about potential share dilution and increased debt. Meanwhile, UBS has adjusted Unity Software’s price target to $30, maintaining a Neutral rating, citing cautious optimism about the company’s AI/ML strategy and revenue growth potential. Needham showed confidence by raising the price target to $33 and maintaining a Buy rating, anticipating a turnaround in Unity’s Grow business. Stifel also increased its price target to $35, reaffirming a Buy rating following Unity’s fourth-quarter earnings report and guidance for the first quarter. Stifel’s analysts expressed optimism about Unity’s upcoming advertising platform update, Vector, which is expected to enhance customer return on investment. These developments reflect a range of analyst expectations and strategic moves by Unity Software aimed at strengthening its market position.
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