Ubiquiti Inc. (NYSE:UI) Shares Bought by Edgestream Partners L.P.

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

Several other hedge funds also recently made changes to their positions in UI. Raymond James Financial Inc. purchased a new position in shares of Ubiquiti during the fourth quarter worth about $1,246,000. HighTower Advisors LLC acquired a new stake in shares of Ubiquiti during the fourth quarter worth about $1,531,000. Farther Finance Advisors LLC boosted its stake in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after buying an additional 39 shares during the period. Signaturefd LLC boosted its stake in shares of Ubiquiti by 66.5% during the fourth quarter. Signaturefd LLC now owns 423 shares of the company's stock worth $140,000 after buying an additional 169 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of Ubiquiti during the fourth quarter worth about $253,000. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Trading Up 3.0%

UI stock traded up $13.52 during trading on Friday, reaching $460.45. The stock had a trading volume of 97,621 shares, compared to its average volume of 88,486. Ubiquiti Inc. has a 1-year low of $156.94 and a 1-year high of $469.98. The company has a market capitalization of $27.85 billion, a P/E ratio of 50.71 and a beta of 1.34. The firm has a fifty day moving average price of $406.48 and a 200 day moving average price of $363.71.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's payout ratio is currently 26.43%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research note on Friday, July 11th. Barclays lifted their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research report on Monday, May 12th.

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.