Motley Fool Asset Management LLC purchased a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 890 shares of the company's stock, valued at approximately $295,000.
Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Ubiquiti by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock worth $21,197,000 after acquiring an additional 765 shares during the period. National Bank of Canada FI grew its position in shares of Ubiquiti by 10.4% in the 4th quarter. National Bank of Canada FI now owns 350 shares of the company's stock valued at $116,000 after buying an additional 33 shares during the last quarter. Franklin Resources Inc. acquired a new position in Ubiquiti during the fourth quarter worth approximately $4,716,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Ubiquiti by 117.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,594 shares of the company's stock valued at $2,521,000 after buying an additional 4,109 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after purchasing an additional 102,268 shares during the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Ubiquiti
In other news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total transaction of $347,990.00. Following the completion of the sale, the chief accounting officer now directly owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 93.10% of the company's stock.
Wall Street Analysts Forecast Growth
UI has been the topic of a number of research analyst reports. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Friday, April 4th. Barclays decreased their target price on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research report on Monday, February 10th.
View Our Latest Research Report on UI
Ubiquiti Stock Performance
Shares of NYSE:UI traded up $28.04 during midday trading on Wednesday, hitting $311.30. The company's stock had a trading volume of 99,717 shares, compared to its average volume of 80,886. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The stock's 50 day simple moving average is $329.21 and its 200 day simple moving average is $322.13. Ubiquiti Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $469.98. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of 42.30 and a beta of 1.31.
Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, research analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current year.
Ubiquiti Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 annualized dividend and a yield of 0.77%. Ubiquiti's dividend payout ratio (DPR) is presently 32.61%.
About Ubiquiti
(
Free Report)
Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.
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