Martingale Asset Management L P Acquires Shares of 1,123 Ubiquiti Inc. (NYSE:UI)

Martingale Asset Management L P bought a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,123 shares of the company's stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UI. Farther Finance Advisors LLC grew its holdings in Ubiquiti by 47.0% during the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after acquiring an additional 39 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after purchasing an additional 54 shares during the period. Blue Trust Inc. increased its holdings in Ubiquiti by 78.8% in the fourth quarter. Blue Trust Inc. now owns 143 shares of the company's stock valued at $47,000 after purchasing an additional 63 shares during the period. Financial Perspectives Inc raised its position in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company's stock worth $56,000 after purchasing an additional 102 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in Ubiquiti by 89.3% during the 4th quarter. Principal Securities Inc. now owns 229 shares of the company's stock worth $76,000 after buying an additional 108 shares during the period. Institutional investors own 4.00% of the company's stock.

Ubiquiti Trading Down 3.3 %

Shares of UI stock traded down $9.99 during mid-day trading on Friday, hitting $296.55. The company's stock had a trading volume of 99,785 shares, compared to its average volume of 80,977. The company has a market cap of $17.94 billion, a PE ratio of 40.29 and a beta of 1.31. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The company's fifty day simple moving average is $316.19 and its 200-day simple moving average is $325.50. Ubiquiti Inc. has a 52 week low of $104.46 and a 52 week high of $469.98.

Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping 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 period in the prior year, the company earned $1.36 earnings per share. As a group, equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently declared 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 0.81%. The ex-dividend date was Tuesday, February 18th. Ubiquiti's payout ratio is 32.61%.

Insider Buying and Selling at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total transaction of $347,990.00. Following the completion of the sale, the chief accounting officer now owns 2,484 shares in the company, valued at $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 93.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on UI shares. Barclays decreased their price target on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. BWS Financial reissued a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Friday, April 4th.

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.