Bank of New York Mellon Corp Sells 75,588 Shares of Ubiquiti Inc. (NYSE:UI)

Bank of New York Mellon Corp lowered its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,223 shares of the company's stock after selling 75,588 shares during the period. Bank of New York Mellon Corp owned about 0.11% of Ubiquiti worth $21,318,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Caprock Group LLC increased its holdings in Ubiquiti by 2.3% during the 4th quarter. Caprock Group LLC now owns 1,085 shares of the company's stock worth $360,000 after purchasing an additional 24 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in Ubiquiti by 12.0% during the 4th quarter. Hanseatic Management Services Inc. now owns 384 shares of the company's stock worth $127,000 after purchasing an additional 41 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after purchasing an additional 54 shares in the last quarter. US Bancorp DE increased its holdings in Ubiquiti by 3.9% during the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company's stock worth $341,000 after purchasing an additional 57 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Ubiquiti by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company's stock worth $392,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 4.00% of the company's stock.

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Insider Buying and Selling at Ubiquiti

In related news, CAO Kevin Radigan sold 1,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total value of $347,990.00. Following the transaction, the chief accounting officer now owns 2,484 shares in the company, valued at $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 93.10% of the company's stock.

Ubiquiti Stock Performance

Shares of UI traded up $15.46 during mid-day trading on Friday, hitting $319.31. 83,514 shares of the company's stock were exchanged, compared to its average volume of 78,168. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $469.98. The stock's 50-day simple moving average is $363.49 and its 200-day simple moving average is $306.23. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 43.39 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business earned $1.36 EPS. On average, equities research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The company also recently disclosed 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 was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.75%. Ubiquiti's dividend payout ratio (DPR) is 32.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UI. Barclays reduced their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. BWS Financial restated a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a research note on Monday, February 10th. Finally, StockNews.com upgraded shares of Ubiquiti from a "hold" rating to a "buy" rating in a research note on Sunday, November 17th.

About Ubiquiti

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.