EntryPoint Capital LLC Has $465,000 Position in Ubiquiti Inc. $UI

Key Points

• EntryPoint Capital LLC reduced its position in Ubiquiti Inc. by 47.0%, ending the first quarter with a holding valued at $465,000.
• Wells Fargo & Company MN and Envestnet Asset Management Inc. both increased their stakes in Ubiquiti during the fourth quarter, indicating ongoing interest from institutional investors.
• Brokerages have varying outlooks for Ubiquiti, with Barclays raising the price target to $247.00 while BWS Financial maintained a "buy" rating with a target of $440.00.

EntryPoint Capital LLC lowered its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,498 shares of the company's stock after selling 1,326 shares during the quarter. EntryPoint Capital LLC's holdings in Ubiquiti were worth $465,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of UI. Wells Fargo & Company MN grew its position in Ubiquiti by 13.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,359 shares of the company's stock valued at $1,115,000 after purchasing an additional 397 shares during the period. Envestnet Asset Management Inc. lifted its stake in Ubiquiti by 22.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,508 shares of the company's stock valued at $2,160,000 after acquiring an additional 1,201 shares in the last quarter. Cerity Partners LLC lifted its stake in Ubiquiti by 13.3% during the 4th quarter. Cerity Partners LLC now owns 1,369 shares of the company's stock valued at $414,000 after acquiring an additional 161 shares in the last quarter. Bank of Montreal Can lifted its stake in Ubiquiti by 12.5% during the 4th quarter. Bank of Montreal Can now owns 1,208 shares of the company's stock valued at $401,000 after acquiring an additional 134 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Ubiquiti during the 4th quarter valued at $1,246,000. Institutional investors and hedge funds own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UI. Barclays raised their price objective on Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. BWS Financial restated a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $343.50.

Ubiquiti Price Performance

NYSE UI opened at $395.0230 on Thursday. The stock has a market capitalization of $23.89 billion, a price-to-earnings ratio of 43.50 and a beta of 1.35. Ubiquiti Inc. has a one year low of $165.50 and a one year high of $488.79. The business's fifty day moving average is $420.84 and its 200-day moving average is $372.49.

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.

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