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SAN FRANCISCO—Gupta Anirma, the Senior Vice President and Chief Legal Officer of Unity Software Inc . (NYSE:U), recently sold shares worth approximately $9,934, according to a regulatory filing with the Securities and Exchange Commission. The transaction, which took place on March 17, involved the sale of 482 shares at a price of $20.61 each. The sale occurred as Unity’s stock, currently trading at $21.25, shows significant volatility according to InvestingPro analysis. The company, with a market capitalization of $8.7 billion, maintains a "Fair" financial health score.
Following this transaction, Anirma retains ownership of 692,460 shares of Unity Software (ETR:SOWGn). The sale was conducted under a Rule 10b5-1 trading plan, which Anirma adopted on August 15, 2024. Such plans allow corporate insiders to set up a predetermined schedule for buying or selling company stock to avoid any potential conflicts of interest. For comprehensive insider trading analysis and additional insights, InvestingPro subscribers can access detailed reports covering Unity’s valuation metrics and future growth prospects.
In other recent news, Unity Software Inc . announced plans to offer $500 million in convertible senior notes due in 2030, with an additional option for $75 million in notes. The proceeds are intended to repurchase existing notes due in 2026 and for general corporate purposes, including potential acquisitions. Unity has also approved performance-based stock units for its executives, aligning incentives with financial targets over a three-year period. UBS has raised its price target for Unity Software to $30, maintaining a Neutral rating, citing cautious optimism about Unity’s strategies and AI/ML model strategy. Meanwhile, Needham increased its price target to $33 and retained a Buy rating, expressing confidence in a potential turnaround in Unity’s Grow business. The firm anticipates improvements driven by new product launches and algorithm enhancements. These developments come as Unity navigates its financial strategies and the market’s response to its convertible notes offering. Investors and analysts are keeping a close eye on Unity’s performance and strategic moves in the coming months.
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