Stock Markets
Unity Software’s chief legal officer sells over $430k in stock
Unity Software Inc. (NYSE:U) has reported a significant transaction by its Senior Vice President and Chief Legal Officer, Gupta Anirma, involving the sale of company shares. According to the latest SEC filings, Gupta sold a total of 22,496 shares of Unity Software’s common stock.
The transaction was executed in two separate trades on May 28, 2024. In the first sale, Gupta disposed of 1,289 shares at a price of $19.39 per share, totaling approximately $24,993. The second sale involved 21,207 shares, sold at a weighted average price of $19.10, with transactions ranging from $18.95 to $19.35 per share, resulting in a total value of roughly $405,053. Following the sales, Gupta retains ownership of 364,210 shares of Unity Software.
The sales were conducted in accordance with a pre-arranged trading plan under Rule 10b5-1, which Gupta adopted on May 12, 2023. This rule allows company insiders to set up a trading plan for selling stocks they own, providing a defense against potential accusations of insider trading. Additionally, part of the shares sold by Gupta were used to cover tax withholding obligations related to the vesting of restricted stock units, as part of an automatic “sell to cover” transaction.
Investors and market watchers often scrutinize insider transactions for insights into a company’s health and the confidence level of its executives. Unity Software, known for its real-time 3D development platform, has been a key player in the prepackaged software industry.
The company and its executives have not provided any additional comments on the transactions. Interested parties can request detailed information about the sales, including the number of shares sold at each price within the stated range.
InvestingPro Insights
Unity Software Inc. (NYSE:U) has seen noteworthy movements in its stock price and financial metrics, which could be of interest to investors following the recent insider transactions. Anirma Gupta’s sale of company shares coincides with a period where the stock has experienced significant volatility and price depreciation. According to InvestingPro data, the company’s stock has declined by 23.65% over the last month and 34.92% over the last three months, reflecting the challenges faced by the company in the market.
InvestingPro Tips suggest that Unity Software’s stock is currently trading near its 52-week low, with a price 37.12% of the 52-week high, which might indicate a potential undervaluation or a reflection of underlying company issues. Additionally, the Relative Strength Index (RSI) suggests the stock is in oversold territory, which could attract investors looking for potential buying opportunities in the software sector.
From a fundamental perspective, Unity Software has a market capitalization of $7.27 billion and a negative P/E ratio, indicating that the company has not been profitable over the last twelve months as of Q1 2024. However, the company has shown a robust revenue growth of 36.66% in the same period. This contrast between revenue growth and profitability may be a focal point for analysts and investors alike. Moreover, with six analysts having revised their earnings downwards for the upcoming period, it could be crucial for potential investors to closely monitor the company’s future earnings reports and management commentary.
InvestingPro offers additional insights and tips that could help in making more informed investment decisions. For more comprehensive analysis and to take advantage of these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With numerous additional InvestingPro Tips available, investors can gain a deeper understanding of Unity Software’s market position and future outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
(Reuters) -Private equity firm Insight Partners is on the brink of closing a new $10 billion-plus fund, roughly half the amount originally targeted, the Financial Times reported on Sunday, citing five people with knowledge of its plans.
Insight will not formally close its 13th fund until early next year, the report said, adding that the final figure may be closer to $12 billion.
Insight Partners declined to comment on the report.
The report said Insight is using a private equity-style structure to sell more than $1 billion worth of stakes in start-ups and to free up cash to return to investors.
One of the start-ups is Israeli cybersecurity firm Wiz, which had called off a $23 billion deal with Google parent Alphabet (NASDAQ:) in July, the report said.
New York-based Insight raised $20 billion for its 12th flagship fund in 2022, aiming to ramp up investments in software and technology companies.
JERUSALEM (Reuters) -Prime Minister Benjamin Netanyahu said Israel would inflict a “heavy price” on the Iran-aligned Houthis who control northern Yemen, after they reached central Israel with a missile on Sunday for the first time.
Houthi military spokesman Yahya Sarea said the group struck with a new hypersonic ballistic missile that travelled 2,040 km (1270 miles) in just 11 1/2 minutes.
After initially saying the missile had fallen in an open area, Israel’s military later said it had probably fragmented in the air, and that pieces of interceptors had landed in fields and near a railway station. Nobody was reported hurt.
Air raid sirens had sounded in Tel Aviv and across central Israel moments before the impact at around 6:35 a.m. local time (0335 GMT), sending residents running for shelter. Loud booms were heard.
Reuters saw smoke billowing in an open field in central Israel.
At a weekly cabinet meeting, Netanyahu said the Houthis should have known that Israel would exact a “heavy price” for attacks on Israel.
“Whoever needs a reminder of that is invited to visit the Hodeida port,” Netanyahu said, referring to an Israeli retaliatory air strike against Yemen in July for a Houthi drone that hit Tel Aviv.
The Houthis have fired missiles and drones at Israel repeatedly in what they say is solidarity with the Palestinians, since the Gaza war began with a Hamas attack on Israel in October.
The drone that hit Tel Aviv for the first time in July killed a man and wounded four people. Israeli air strikes in response on Houthi military targets near the port of Hodeidah killed six and wounded 80.
Previously, Houthi missiles have not penetrated deep into Israeli air space, with the only one reported to have hit Israeli territory falling in an open area near the Red Sea port of Eilat in March.
Israel should expect more strikes in the future “as we approach the first anniversary of the Oct. 7 operation, including responding to its aggression on the city of Hodeidah,” Sarea said.
The deputy head of the Houthi’s media office, Nasruddin Amer, said in a post on X on Sunday that the missile had reached Israel after “20 missiles failed to intercept” it, describing it as the “beginning”.
The Israeli military also said that 40 projectiles were fired towards Israel from Lebanon on Sunday and were either intercepted or landed in open areas.
“No injuries were reported,” the military said.
PARIS (Reuters) – Eight people have died trying to cross the Channel from France to England, French authorities said on Sunday, confirming earlier media reports.
This latest incident follows the deaths of 12 people earlier this month when their boat capsized in the Channel on its way to Britain and highlights the pressure on the British and French governments to find ways to tackle the boat crossings.
Jacques Billant, the Prefect of the Pas-de-Calais region, said that rescue crews were alerted that a boat with 59 people onboard was in difficulty in waters off the coast of Ambleteuse in the Pas-de-Calais area.
“A new drama took place around one in the morning and we deplore the death of eight people,” he told a news conference, adding that the other 51 onboard were now in the care of rescue and medical crews.
The dead were men from Eritrea, Sudan, Syria, Egypt, Iran and Afghanistan, he added.
The Channel is one of the world’s busiest shipping lanes and currents are strong, which makes crossing on small boats dangerous.
The latest incident brings to 46 the number of people who have died trying to cross the Channel from France since the start of the year, Billant said.
On September 14 alone there were eight attempts to cross the Channel from France and some 200 migrants were rescued, he said.
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex2 years ago
Unbiased review of Pocket Option broker
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Stock Markets2 years ago
Morgan Stanley: bear market rally to continue
