HighTower Advisors LLC acquired a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,612 shares of the company's stock, valued at approximately $1,531,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC bought a new stake in shares of Ubiquiti in the fourth quarter valued at about $9,274,000. Edgestream Partners L.P. boosted its stake in shares of Ubiquiti by 103.0% in the fourth quarter. Edgestream Partners L.P. now owns 10,258 shares of the company's stock valued at $3,405,000 after buying an additional 5,204 shares during the period. Raymond James Financial Inc. bought a new position in Ubiquiti during the 4th quarter worth $1,246,000. Proficio Capital Partners LLC bought a new stake in Ubiquiti during the fourth quarter worth about $15,425,000. Finally, West Michigan Advisors LLC acquired a new stake in Ubiquiti during the fourth quarter worth about $294,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently commented on UI. Barclays dropped their target price on shares of Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research report on Monday, February 10th. BWS Financial reaffirmed a "buy" rating and issued a $440.00 target price on shares of Ubiquiti in a report on Monday, February 10th.
View Our Latest Stock Analysis on UI
Insider Activity at Ubiquiti
In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 2,484 shares in the company, valued at approximately $864,407.16. This represents a 28.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 93.10% of the stock is owned by company insiders.
Ubiquiti Price Performance
Shares of UI traded down $10.64 during mid-day trading on Tuesday, reaching $322.32. The company had a trading volume of 60,053 shares, compared to its average volume of 77,753. The company has a market capitalization of $19.50 billion, a price-to-earnings ratio of 43.79 and a beta of 1.12. 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 company's 50 day simple moving average is $358.56 and its 200 day simple moving average is $314.11. Ubiquiti Inc. has a 1-year low of $104.24 and a 1-year high of $469.98.
Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping 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 quarter in the previous year, the firm earned $1.36 EPS. Analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.
Ubiquiti Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Tuesday, February 18th. Ubiquiti's dividend payout ratio is currently 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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