JPMorgan Chase & Co. Decreases Holdings in Ubiquiti Inc. (NYSE:UI)

JPMorgan Chase & Co. lowered its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 57.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,789 shares of the company's stock after selling 17,024 shares during the quarter. JPMorgan Chase & Co.'s holdings in Ubiquiti were worth $4,245,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after buying an additional 54 shares in the last quarter. Blue Trust Inc. boosted its position in Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company's stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Financial Perspectives Inc grew its stake in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company's stock valued at $56,000 after acquiring an additional 102 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in Ubiquiti by 89.3% in the 4th quarter. Principal Securities Inc. now owns 229 shares of the company's stock valued at $76,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on UI shares. Barclays dropped their price target on 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 reissued a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a report on Friday, April 4th.

Insider Activity

In other news, CAO Kevin Radigan sold 1,000 shares of the firm'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 owns 2,484 shares of the company's stock, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 93.10% of the company's stock.

Ubiquiti Trading Up 3.1 %

UI stock traded up $9.22 during midday trading on Wednesday, hitting $304.00. 44,151 shares of the company's stock were exchanged, compared to its average volume of 80,848. Ubiquiti Inc. has a 1-year low of $104.71 and a 1-year high of $469.98. The business has a 50-day simple moving average of $314.06 and a two-hundred day simple moving average of $327.07. The stock has a market capitalization of $18.39 billion, a PE ratio of 41.30 and a beta of 1.31. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.

Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, February 14th. The company reported $2.26 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 company earned $1.36 EPS. On average, sell-side analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.79%. Ubiquiti's dividend payout ratio is currently 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.