Envestnet Asset Management Inc. Acquires 1,201 Shares of Ubiquiti Inc. (NYSE:UI)

Envestnet Asset Management Inc. increased its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,508 shares of the company's stock after acquiring an additional 1,201 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Ubiquiti were worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of UI. Versor Investments LP increased its stake in Ubiquiti by 254.5% during the 4th quarter. Versor Investments LP now owns 3,900 shares of the company's stock valued at $1,295,000 after purchasing an additional 2,800 shares in the last quarter. Barclays PLC increased its stake in Ubiquiti by 4,880.2% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company's stock valued at $2,959,000 after purchasing an additional 13,079 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in Ubiquiti during the 4th quarter valued at about $2,180,000. Sei Investments Co. bought a new stake in Ubiquiti during the 4th quarter valued at about $1,737,000. Finally, Raymond James Financial Inc. bought a new stake in Ubiquiti during the 4th quarter valued at about $1,246,000. 4.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UI has been the subject of a number of research analyst reports. Barclays reduced their price target 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 reiterated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Friday, April 4th.

Insider Transactions at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti 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 transaction, the chief accounting officer now owns 2,484 shares in the company, valued at $864,407.16. This trade represents a 28.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 93.10% of the company's stock.

Ubiquiti Stock Performance

Shares of UI stock opened at $314.35 on Monday. The company has a 50 day moving average price of $312.18 and a 200-day moving average price of $329.37. Ubiquiti Inc. has a 52 week low of $106.99 and a 52 week high of $469.98. The firm has a market capitalization of $19.02 billion, a PE ratio of 42.71 and a beta of 1.31. 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 issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping 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 quarter in the previous year, the firm posted $1.36 EPS. As a group, equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, February 18th. Ubiquiti's dividend payout ratio is presently 32.61%.

Ubiquiti Company Profile

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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