2,825 Shares in Ubiquiti Inc. (NYSE:UI) Bought by Verition Fund Management LLC

Verition Fund Management LLC purchased a new position in Ubiquiti Inc. (NYSE:UI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,825 shares of the company's stock, valued at approximately $626,000.

A number of other large investors also recently modified their holdings of the business. FMR LLC lifted its position in Ubiquiti by 200.8% in the third quarter. FMR LLC now owns 2,764 shares of the company's stock worth $613,000 after purchasing an additional 1,845 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Ubiquiti in the 3rd quarter worth $244,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Ubiquiti in the third quarter valued at $126,000. Algert Global LLC bought a new position in Ubiquiti during the third quarter valued at about $838,000. Finally, Pacer Advisors Inc. acquired a new position in Ubiquiti during the third quarter worth about $7,030,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Trading Up 2.8 %

Ubiquiti stock traded up $9.17 during midday trading on Wednesday, reaching $342.06. The stock had a trading volume of 183,790 shares, compared to its average volume of 77,986. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $366.33. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 53.10 and a beta of 1.12. The firm's fifty day simple moving average is $292.19 and its two-hundred day simple moving average is $214.62.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.60 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.70%. Ubiquiti's dividend payout ratio is presently 37.15%.

Wall Street Analyst Weigh In

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

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.