Proficio Capital Partners LLC purchased a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,470 shares of the company's stock, valued at approximately $15,425,000. Proficio Capital Partners LLC owned 0.08% of Ubiquiti as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UI. Huntington National Bank lifted its position in Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company's stock worth $28,000 after acquiring an additional 91 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock valued at $43,000 after buying an additional 54 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Ubiquiti by 78.8% in the 4th quarter. Blue Trust Inc. now owns 143 shares of the company's stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Financial Perspectives Inc increased its stake in shares of Ubiquiti by 152.2% in the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company's stock valued at $56,000 after purchasing an additional 102 shares in the last quarter. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Ubiquiti in the 3rd quarter valued at about $76,000. Institutional investors and hedge funds own 4.00% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have commented on the company. StockNews.com upgraded Ubiquiti from a "hold" rating to a "buy" rating in a research note on Sunday, November 17th. Barclays cut their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. Finally, BWS Financial reiterated a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a research note on Monday, February 10th.
View Our Latest Analysis on Ubiquiti
Insider Buying and Selling
In related news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 93.10% of the stock is currently owned by company insiders.
Ubiquiti Price Performance
NYSE:UI traded up $8.92 during trading hours on Wednesday, hitting $332.15. 77,585 shares of the stock were exchanged, compared to its average volume of 77,679. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The firm's fifty day moving average price is $367.16 and its 200 day moving average price is $301.80. The company has a market cap of $20.09 billion, a P/E ratio of 45.13 and a beta of 1.12. Ubiquiti Inc. has a 52-week low of $104.24 and a 52-week high of $469.98.
Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) 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 prior year, the company posted $1.36 earnings per share. As a group, equities research analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.
Ubiquiti Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given 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 0.72%. Ubiquiti's payout ratio is 32.61%.
Ubiquiti Profile
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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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