State Street Corp Sells 2,015 Shares of Ubiquiti Inc. (NYSE:UI)

State Street Corp decreased its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,144 shares of the company's stock after selling 2,015 shares during the period. State Street Corp owned 0.12% of Ubiquiti worth $15,996,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new stake in Ubiquiti in the third quarter worth about $7,030,000. Millennium Management LLC grew its position in shares of Ubiquiti by 86.2% during the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company's stock worth $8,499,000 after buying an additional 27,011 shares during the period. SW Investment Management LLC grew its position in shares of Ubiquiti by 9.1% during the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company's stock worth $43,698,000 after buying an additional 25,000 shares during the period. AQR Capital Management LLC raised its stake in shares of Ubiquiti by 88.8% during the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company's stock worth $3,372,000 after buying an additional 11,076 shares during the last quarter. Finally, Maverick Capital Ltd. increased its holdings in Ubiquiti by 76.3% in the second quarter. Maverick Capital Ltd. now owns 19,093 shares of the company's stock valued at $2,781,000 after purchasing an additional 8,264 shares during the last quarter. Institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

UI has been the subject of several analyst reports. StockNews.com upgraded Ubiquiti from a "hold" rating to a "buy" rating in a research report on Sunday, November 17th. Barclays raised their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a report on Monday, November 11th. Finally, BWS Financial upped their target price on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a "buy" rating in a research note on Monday, November 11th.

Ubiquiti Stock Up 1.7 %

NYSE UI traded up $5.76 during trading on Wednesday, hitting $350.66. The stock had a trading volume of 31,781 shares, compared to its average volume of 77,846. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $366.33. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The company's 50-day moving average price is $314.18 and its two-hundred day moving average price is $228.50. The company has a market capitalization of $21.20 billion, a PE ratio of 54.28 and a beta of 1.12.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti's payout ratio is 37.15%.

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.