Truist Financial Corp bought a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 877 shares of the company's stock, valued at approximately $291,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in shares of Ubiquiti by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,862 shares of the company's stock worth $618,000 after acquiring an additional 94 shares during the last quarter. Monument Capital Management purchased a new stake in shares of Ubiquiti in the fourth quarter worth $354,000. Principal Securities Inc. grew its stake in shares of Ubiquiti by 89.3% in the fourth quarter. Principal Securities Inc. now owns 229 shares of the company's stock worth $76,000 after acquiring an additional 108 shares during the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of Ubiquiti in the fourth quarter worth $206,000. Finally, Choreo LLC purchased a new stake in shares of Ubiquiti in the fourth quarter worth $308,000. 4.00% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 2,484 shares of the company's stock, 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 can be accessed through this link. Corporate insiders own 93.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on UI shares. Barclays cut their target price on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research note on Monday, February 10th. Finally, StockNews.com upgraded Ubiquiti from a "hold" rating to a "buy" rating in a research note on Sunday, November 17th.
View Our Latest Report on Ubiquiti
Ubiquiti Stock Performance
UI stock traded up $5.11 on Friday, hitting $319.97. The company had a trading volume of 113,319 shares, compared to its average volume of 77,839. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $469.98. 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 stock's 50-day simple moving average is $365.94 and its 200 day simple moving average is $303.74. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 43.47 and a beta of 1.12.
Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) 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 period in the previous year, the company earned $1.36 EPS. As a group, equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.
Ubiquiti Dividend Announcement
The firm also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, February 18th. Ubiquiti's dividend payout ratio is 32.61%.
Ubiquiti Company 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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