Edgestream Partners L.P. Boosts Position in Ubiquiti Inc. (NYSE:UI)

Edgestream Partners L.P. increased its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 46.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,028 shares of the company's stock after purchasing an additional 4,770 shares during the quarter. Edgestream Partners L.P.'s holdings in Ubiquiti were worth $4,661,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Ubiquiti in the 4th quarter valued at about $1,246,000. HighTower Advisors LLC acquired a new stake in shares of Ubiquiti in the fourth quarter valued at approximately $1,531,000. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 39 shares in the last quarter. Signaturefd LLC raised its position in shares of Ubiquiti by 66.5% during the 4th quarter. Signaturefd LLC now owns 423 shares of the company's stock worth $140,000 after purchasing an additional 169 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in Ubiquiti during the 4th quarter valued at $253,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UI has been the topic of several recent research reports. Barclays upped their price objective on Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. BWS Financial reissued a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research report on Friday, July 11th.

Ubiquiti Trading Up 6.3%

Shares of NYSE UI traded up $26.64 on Thursday, reaching $448.61. 67,344 shares of the company traded hands, compared to its average volume of 88,008. The stock has a market capitalization of $27.14 billion, a PE ratio of 49.45 and a beta of 1.34. Ubiquiti Inc. has a fifty-two week low of $156.94 and a fifty-two week high of $469.98. The company has a 50 day moving average of $403.60 and a 200 day moving average of $362.05.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, May 19th. Ubiquiti's payout ratio is currently 26.43%.

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.