Cubist Systematic Strategies LLC Takes $4.48 Million Position in Ubiquiti Inc. (NYSE:UI)

Cubist Systematic Strategies LLC bought a new position in Ubiquiti Inc. (NYSE:UI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,507 shares of the company's stock, valued at approximately $4,484,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UI. Arrowstreet Capital Limited Partnership raised its holdings in Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after purchasing an additional 102,268 shares during the last quarter. AQR Capital Management LLC grew its holdings in Ubiquiti by 100.1% in the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock valued at $32,927,000 after purchasing an additional 49,616 shares during the last quarter. Norges Bank purchased a new position in shares of Ubiquiti in the fourth quarter valued at $16,166,000. Proficio Capital Partners LLC acquired a new position in shares of Ubiquiti during the 4th quarter worth $15,425,000. Finally, Pacer Advisors Inc. raised its stake in shares of Ubiquiti by 95.0% during the 4th quarter. Pacer Advisors Inc. now owns 61,825 shares of the company's stock worth $20,522,000 after buying an additional 30,118 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Price Performance

Shares of NYSE UI traded up $19.23 during trading on Monday, reaching $432.75. The company had a trading volume of 184,152 shares, compared to its average volume of 81,864. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a twelve month low of $128.07 and a twelve month high of $469.98. The stock has a 50-day moving average price of $317.02 and a two-hundred day moving average price of $337.42. The stock has a market capitalization of $26.18 billion, a PE ratio of 58.80 and a beta of 1.32.

Ubiquiti (NYSE:UI - Get Free Report) last announced its earnings results on Friday, February 14th. The company reported $2.26 earnings per share 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 business posted $1.36 earnings per share. As a group, sell-side analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.55%. Ubiquiti's payout ratio is currently 32.61%.

Insider Buying and Selling at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 93.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BWS Financial reissued a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Monday. Barclays upped their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a report on Monday.

Ubiquiti Company 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.