Barrysmith Mark, the Senior Vice President, Chief Accounting Officer, and Interim Chief Financial Officer of Unity Software Inc . (NYSE:U), has sold 1,228 shares of the company’s common stock. The transaction, executed on December 16, 2024, was carried out at a price of $24.44 per share, totaling $30,012. Following this sale, Mark retains ownership of 453,638 shares in the company. The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on September 12, 2024. While Unity currently operates with a moderate debt level and maintains strong liquidity with a current ratio of 2.41, InvestingPro analysis reveals 12 additional key insights about Unity's financial health and market position, available through the comprehensive Pro Research Report.
In other recent news, GameStop Corp (NYSE:GME). and AMC Entertainment (NYSE:AMC) Holdings Inc. experienced a significant surge in their shares, a phenomenon attributed to a tweet by online figure Roaring Kitty. Similarly, Unity Software (ETR:SOWGn) Inc. saw an increase in bullish call options after the tweet. These are recent developments that have stirred the market, reminiscent of the meme-stock frenzy of January 2021.
Meanwhile, Unity Software has been the subject of positive analysis by Morgan Stanley (NYSE:MS), which reiterated its Overweight rating and $24.00 price target for the company. The firm's optimism is based on Unity Software's growth prospects, particularly in its advertising and Create segments, and the anticipated 2025 launch of a new advertising model.
Unity Software also reported strong Q3 results, leading to an upward revision of its full-year guidance. The company posted Q3 revenue of $429 million, surpassing the projected range of $415 million to $420 million. Unity's adjusted EBITDA reached $92 million, exceeding the expected $75 million to $80 million.
In addition to these financial achievements, Unity Software announced strategic changes, including the cancellation of the runtime fee and a return to a subscription model with the launch of Unity 6. The company's full-year revenue guidance has been increased to between $1.73 billion and $1.78 billion, with adjusted EBITDA guidance also rising to $363 million to $368 million. These developments underline Unity's confidence in its growth trajectory.
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