Anirma Gupta, the Senior Vice President and Chief Legal Officer at Unity Software Inc . (NYSE:U), recently sold 456 shares of the company's common stock. Unity, currently valued at $8.8 billion, maintains a FAIR financial health score according to InvestingPro analysis, with a current ratio of 2.41 indicating strong liquidity. The transaction, which took place on January 15, 2025, was executed at a price of $22.96 per share, amounting to a total value of $10,469. Following this sale, Gupta retains ownership of 575,355 shares in Unity Software (ETR:SOWGn). The sales were conducted under a pre-established Rule 10b5-1 trading plan, which Gupta adopted on August 15, 2024. With the company's earnings announcement scheduled for January 30, 2025, InvestingPro subscribers can access additional insights, including 6 more exclusive ProTips and comprehensive insider trading analysis in the Pro Research Report.
In other recent news, Unity Software reported Q3 earnings, surpassing projections with a revenue of $429 million and adjusted EBITDA of $92 million. Despite a marginal year-over-year decrease, the company witnessed a 1% sequential increase in revenue. The company's full-year revenue guidance has been revised upwards to between $1.73 billion and $1.78 billion, and adjusted EBITDA guidance has also been raised to $363 million to $368 million.
In other developments, Unity Software's stock experienced a boost following a cryptic tweet by online personality Roaring Kitty, resulting in a surge in trading activity. GameStop Corp (NYSE:GME). and AMC Entertainment (NYSE:AMC) Holdings Inc. also saw significant increases in their share prices following the same tweet.
Morgan Stanley (NYSE:MS) has reiterated an Overweight rating and a $24.00 price target for Unity Software, expressing confidence in the company's growth prospects, particularly in its advertising and Create segments. The firm's optimism is based on Unity's plans for a new advertising model and the integration of its various advertising technology assets, which are expected to lead to operational efficiencies.
Lastly, Unity Software has announced strategic changes, including the cancellation of the runtime fee and a return to a subscription model with the launch of Unity 6. New executives Steve Collins and Jared Gas are set to join as CTO and CFO respectively in January 2025. These developments underline Unity's confidence in its growth trajectory and its commitment to expanding its presence in both gaming and non-gaming sectors.
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