Harvest Fund Management Co. Ltd grew its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 578.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,866 shares of the company's stock after acquiring an additional 3,296 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Ubiquiti were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Huntington National Bank boosted its holdings in Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company's stock worth $28,000 after purchasing an additional 91 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 39 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Ubiquiti by 71.1% in 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 period. Blue Trust Inc. grew its position in shares of Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company's stock valued at $47,000 after buying an additional 63 shares during the last quarter. Finally, Financial Perspectives Inc raised its stake in Ubiquiti by 152.2% during the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company's stock worth $56,000 after acquiring an additional 102 shares during the period. 4.00% of the stock is owned by institutional investors and hedge funds.
Ubiquiti Stock Performance
Ubiquiti stock traded up $18.11 during midday trading on Monday, reaching $334.71. 87,312 shares of the stock traded hands, compared to its average volume of 77,758. 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 has a fifty day moving average price of $359.15 and a two-hundred day moving average price of $313.10. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 45.48 and a beta of 1.12. Ubiquiti Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $469.98.
Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, equities research analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.
Ubiquiti Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a $0.60 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.72%. Ubiquiti's payout ratio is 32.61%.
Wall Street Analyst Weigh In
UI has been the subject of several recent research reports. BWS Financial reaffirmed a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a report on Monday, February 10th. Barclays lowered 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.
Get Our Latest Research Report on Ubiquiti
Insider Activity
In other news, CAO Kevin Radigan sold 1,000 shares of the 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 $864,407.16. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 93.10% of the company's stock.
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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