Deutsche Bank AG Sells 1,248 Shares of Ubiquiti Inc. $UI

Key Points

• Deutsche Bank AG reduced its ownership in Ubiquiti Inc. by 21.4% in the first quarter, now holding 4,584 shares valued at approximately $1.42 million.
• Ubiquiti's latest earnings report indicated EPS of $3.54 for the quarter, significantly exceeding analysts' estimates of $2.23 and resulting in a revenue of $759.15 million.
• The company announced an increase in its quarterly dividend to $0.80, up from the previous $0.60, representing an annualized yield of 0.6%.

Deutsche Bank AG trimmed its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,584 shares of the company's stock after selling 1,248 shares during the period. Deutsche Bank AG's holdings in Ubiquiti were worth $1,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UI. US Bancorp DE lifted its position in Ubiquiti by 2.4% during the 1st 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 raised its position in shares of Ubiquiti by 6.0% during the first quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after buying an additional 41 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of Ubiquiti by 26.2% during the first quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock valued at $112,000 after buying an additional 75 shares during the last quarter. M&T Bank Corp raised its position in shares of Ubiquiti by 7.2% during the first quarter. M&T Bank Corp now owns 1,174 shares of the company's stock valued at $364,000 after buying an additional 79 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Ubiquiti during the first quarter valued at about $25,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Stock Performance

Ubiquiti stock traded up $15.04 during trading hours on Tuesday, hitting $534.93. 259,909 shares of the stock were exchanged, compared to its average volume of 112,648. The stock has a market capitalization of $32.36 billion, a P/E ratio of 45.45 and a beta of 1.35. Ubiquiti Inc. has a 12 month low of $184.00 and a 12 month high of $537.06. The business's 50-day moving average is $426.08 and its two-hundred day moving average is $373.18.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.23 by $1.31. The firm had revenue of $759.15 million for the quarter, compared to analysts' expectations of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 215.74%. During the same period in the prior year, the firm earned $1.74 earnings per share. On average, equities analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.80 per share. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Ubiquiti's payout ratio is currently 27.19%.

Analysts Set New Price Targets

A number of research analysts have recently commented on UI shares. BWS Financial upped their price objective on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a research report on Monday. Barclays upped their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a research note on Friday. Finally, UBS Group set a $600.00 target price on shares of Ubiquiti in a research note on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $499.67.

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.