Aviva PLC Sells 1,377 Shares of Ubiquiti Inc. (NYSE:UI)

Aviva PLC lessened its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 43.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,767 shares of the company's stock after selling 1,377 shares during the period. Aviva PLC's holdings in Ubiquiti were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in Ubiquiti by 926.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after buying an additional 102,268 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ubiquiti by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock valued at $31,369,000 after acquiring an additional 2,294 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ubiquiti by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock worth $21,197,000 after acquiring an additional 765 shares in the last quarter. Pacer Advisors Inc. boosted its position in Ubiquiti by 95.0% during the fourth quarter. Pacer Advisors Inc. now owns 61,825 shares of the company's stock valued at $20,522,000 after purchasing an additional 30,118 shares during the last quarter. Finally, Norges Bank acquired a new position in Ubiquiti during the fourth quarter valued at approximately $16,166,000. Institutional investors and hedge funds own 4.00% of the company's stock.

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Insider Activity at Ubiquiti

In related news, CAO Kevin Radigan sold 1,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total transaction of $347,990.00. Following the transaction, the chief accounting officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 93.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UI. Barclays cut their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a report on Monday, February 10th. BWS Financial reissued a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research report on Friday, April 4th.

Ubiquiti Stock Performance

Shares of NYSE UI traded down $1.05 during midday trading on Wednesday, hitting $315.03. 16,509 shares of the company's stock were exchanged, compared to its average volume of 100,979. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $19.06 billion, a PE ratio of 42.88 and a beta of 1.31. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $469.98. The company's 50 day moving average price is $320.35 and its 200 day moving average price is $324.60.

Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, beating 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 prior year, the company earned $1.36 EPS. As a group, analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.76%. Ubiquiti's dividend payout ratio (DPR) is currently 32.61%.

Ubiquiti 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.