Cubist Systematic Strategies LLC Sells 8,601 Shares of Ubiquiti Inc. $UI

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in Ubiquiti Inc. by 63.7% during the first quarter, currently owning 4,906 shares valued at approximately $1.52 million.
• Large investors showed interest in Ubiquiti, with Northern Trust Corp raising its holdings by 54.2% and Jane Street Group increasing theirs by 826.2% during the fourth quarter.
• Ubiquiti recently increased its quarterly dividend from $0.60 to $0.80, with an annualized yield of 0.6%, and reported $3.54 earnings per share for the last quarter, exceeding estimates.

Cubist Systematic Strategies LLC lessened its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 63.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,906 shares of the company's stock after selling 8,601 shares during the period. Cubist Systematic Strategies LLC's holdings in Ubiquiti were worth $1,522,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. US Bancorp DE grew its position in shares of Ubiquiti by 2.4% during the first quarter. US Bancorp DE now owns 1,564 shares of the company's stock worth $485,000 after acquiring an additional 37 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Ubiquiti by 6.0% in the first quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after purchasing an additional 41 shares during the period. Brooklyn Investment Group raised its holdings in shares of Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Ubiquiti by 6.9% during the first quarter. CreativeOne Wealth LLC now owns 789 shares of the company's stock worth $245,000 after buying an additional 51 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in Ubiquiti by 26.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock worth $112,000 after buying an additional 75 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UI has been the topic of a number of recent analyst reports. BWS Financial lifted their price objective on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Barclays boosted their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. Finally, UBS Group set a $600.00 price objective on shares of Ubiquiti in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $499.67.

Ubiquiti Price Performance

Shares of NYSE:UI traded up $9.83 during mid-day trading on Thursday, reaching $615.49. 95,055 shares of the company traded hands, compared to its average volume of 117,813. The company's 50 day moving average price is $464.72 and its 200-day moving average price is $390.28. The firm has a market cap of $37.23 billion, a PE ratio of 52.29 and a beta of 1.42. Ubiquiti Inc. has a 52 week low of $198.08 and a 52 week high of $621.09.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.23 by $1.31. The business had revenue of $759.15 million for the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. During the same quarter in the previous year, the firm earned $1.74 earnings per share. On average, research analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Ubiquiti's payout ratio is 27.19%.

About Ubiquiti

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.