Anirma Gupta, Unit Software Inc .’s (NYSE:) Senior Vice President and Chief Legal Officer recently sold some of her shares in the company, according to a recent SEC filing. The transactions, which took place on November 25, included the sale of 10,465 shares of common stock. The shares were sold at prices ranging from $24.37 to $24.84, for a total of $255,085.
These sales occurred as part of an automatic process to cover tax withholding liabilities associated with the acquisition of restricted stock units, as stated in the filing. Following these transactions, Gupta retains direct ownership of 575,811 shares in Unity Software (ETR:).
“In other recent news, Unity Software reported strong third quarter earnings with revenue of $429 million, exceeding expectations of $415 million to $420 million. The company’s adjusted EBITDA was $92 million, exceeding expectations of $75 million to $80 million In light of this Following the results, Unity Software revised its full-year revenue guidance to between $1.73 billion and $1.78 billion, with the adjusted EBITDA guidance also increased to $363 million to $368 million.
Unity Software also 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 will join the company in January 2025 as CTO and CFO, respectively.
In recent developments Morgan Stanley (NYSE:) maintained an Overweight rating and a $24.00 price target on Unity Software. The company expressed confidence in the company’s growth prospects, especially in the Advertising and Create segments. Unity Software expects to launch a new advertising model in 2025, which is expected to have a significant impact on the company’s Grow business. Additionally, the company has introduced a 25% price increase for its largest customers in the Create division, indicating strong pricing power in the mobile gaming market.”
InvestingPro Insights
While Anirma Gupta’s recent stock sale was part of a routine tax withholding process, it’s worth examining Unity Software’s current financial position and market performance to provide context for investors.
According to data from InvestingPro, Unity Software has recently shown strong momentum, returning a significant 21.81% over the past month and an impressive 35.55% return over the past three months. This positive trend is consistent with an InvestingPro tip indicating that the company has delivered “strong returns over the past three months.”
Despite these recent gains, Unity faces a number of challenges. The company is currently unprofitable, with a negative price-to-earnings ratio of -14.62 over the trailing twelve months as of Q3 2024. However, an InvestingPro tip suggests that “analysts predict the company will be profitable this year,” which could be a possible explanation. positive sign for investors looking at Unity’s future prospects.
It’s also worth noting that Unity’s price movements are quite volatile, as evidenced by another InvestingPro tip. This volatility is reflected in the company’s year-to-date total price return of -41.26%, which is in stark contrast to its recent positive performance.
For investors looking for a more in-depth analysis, InvestingPro offers additional insights, with 10 more tips available for Unity Software. These tips can provide valuable guidance for those considering the stock’s potential in light of recent insider transactions and market performance.
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