Envestnet Asset Management Inc. boosted its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,508 shares of the company's stock after acquiring an additional 1,201 shares during the period. Envestnet Asset Management Inc.'s holdings in Ubiquiti were worth $2,160,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UI. Barclays PLC lifted its stake in shares of Ubiquiti by 4,880.2% during the third quarter. Barclays PLC now owns 13,347 shares of the company's stock valued at $2,959,000 after acquiring an additional 13,079 shares during the period. Tidal Investments LLC grew its holdings in shares of Ubiquiti by 13.3% during the third quarter. Tidal Investments LLC now owns 18,505 shares of the company's stock worth $4,103,000 after buying an additional 2,174 shares in the last quarter. DGS Capital Management LLC bought a new position in Ubiquiti in the third quarter valued at $213,000. JPMorgan Chase & Co. raised its stake in shares of Ubiquiti by 20.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company's stock worth $6,610,000 after purchasing an additional 5,045 shares in the last quarter. Finally, Hanseatic Management Services Inc. increased its stake in shares of Ubiquiti by 12.0% during the 4th quarter. Hanseatic Management Services Inc. now owns 384 shares of the company's stock worth $127,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company's stock.
Ubiquiti Stock Performance
Shares of UI traded up $10.42 on Thursday, reaching $336.87. 28,709 shares of the company's stock traded hands, compared to its average volume of 80,525. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The stock has a market cap of $20.38 billion, a PE ratio of 45.89 and a beta of 1.31. Ubiquiti Inc. has a 52-week low of $107.07 and a 52-week high of $469.98. The stock's 50 day simple moving average is $311.56 and its two-hundred day simple moving average is $329.90.
Ubiquiti (NYSE:UI - Get Free Report) last released 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 business posted $1.36 earnings per share. On average, analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.
Ubiquiti Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were paid a $0.60 dividend. 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 0.71%. Ubiquiti's dividend payout ratio is currently 32.61%.
Insiders Place Their Bets
In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 directly owns 2,484 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 93.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Barclays cut their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a research report on Monday, February 10th. BWS Financial reiterated a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a research report on Friday, April 4th.
Read Our Latest Report on UI
Ubiquiti Company Profile
(
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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