Federated Hermes Inc. Buys New Stake in Ubiquiti Inc. (NYSE:UI)

Key Points

• Federated Hermes Inc. acquired 1,302 shares of Ubiquiti Inc., valued at approximately $404,000, marking their entry into the company's ownership during the 1st quarter.
• Several institutional investors have increased their stakes in Ubiquiti, including a 484.2% increase in holdings by Versant Capital Management Inc. during the same quarter.
• Ubiquiti's stock recently opened at $470.69, with a market capitalization of $28.47 billion and a reported quarterly dividend of $0.60.

Federated Hermes Inc. acquired a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,302 shares of the company's stock, valued at approximately $404,000.

Several other hedge funds have also recently made changes to their positions in UI. TD Asset Management Inc bought a new stake in shares of Ubiquiti during the 1st quarter valued at $34,013,000. AQR Capital Management LLC grew its position in shares of Ubiquiti by 100.1% during the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock valued at $32,927,000 after acquiring an additional 49,616 shares during the period. Pacer Advisors Inc. grew its position in shares of Ubiquiti by 76.2% during the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock valued at $33,785,000 after acquiring an additional 47,109 shares during the period. GAMMA Investing LLC grew its position in shares of Ubiquiti by 37,116.4% during the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock valued at $12,697,000 after acquiring an additional 40,828 shares during the period. Finally, Abacus FCF Advisors LLC boosted its position in shares of Ubiquiti by 654.4% in the first quarter. Abacus FCF Advisors LLC now owns 33,116 shares of the company's stock worth $10,271,000 after purchasing an additional 28,726 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UI. Barclays upped their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. BWS Financial reiterated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Friday, July 11th.

Ubiquiti Stock Performance

Shares of UI traded up $10.84 during mid-day trading on Tuesday, reaching $475.93. The stock had a trading volume of 59,677 shares, compared to its average volume of 103,604. The firm has a market cap of $28.79 billion, a price-to-earnings ratio of 52.42 and a beta of 1.35. Ubiquiti Inc. has a 12 month low of $165.50 and a 12 month high of $480.19. The business has a fifty day moving average of $418.25 and a 200 day moving average of $370.75.

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.