Invesco Ltd. reduced its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,276 shares of the company's stock after selling 5,706 shares during the period. Invesco Ltd.'s holdings in Ubiquiti were worth $4,075,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caprock Group LLC raised its position in shares of Ubiquiti by 2.3% during the 4th quarter. Caprock Group LLC now owns 1,085 shares of the company's stock worth $360,000 after acquiring an additional 24 shares in the last quarter. National Bank of Canada FI raised its holdings in Ubiquiti by 10.4% during the fourth quarter. National Bank of Canada FI now owns 350 shares of the company's stock worth $116,000 after purchasing an additional 33 shares in the last quarter. 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 in the last quarter. Hanseatic Management Services Inc. grew its position in shares of Ubiquiti by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 384 shares of the company's stock valued at $127,000 after buying an additional 41 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after acquiring an additional 54 shares in the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on UI. Barclays dropped their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating on the stock in a report on Monday, February 10th. BWS Financial reiterated a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Friday, April 4th.
Check Out Our Latest Research Report on UI
Ubiquiti Stock Performance
Shares of UI stock opened at $314.35 on Monday. The stock's 50-day moving average price is $312.18 and its 200 day moving average price is $329.37. 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 stock has a market capitalization of $19.02 billion, a PE ratio of 42.71 and a beta of 1.31. Ubiquiti Inc. has a 52-week low of $106.99 and a 52-week high of $469.98.
Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data 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 net margin of 20.68% and a return on equity of 296.82%. During the same period last year, the business posted $1.36 EPS. As a group, equities research analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current year.
Ubiquiti Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, February 18th. Ubiquiti's dividend payout ratio is presently 32.61%.
Insider Transactions at Ubiquiti
In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company'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 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 filing with the SEC, which can be accessed through this link. Company 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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