Meeder Asset Management Inc. Takes $1.98 Million Position in Ubiquiti Inc. $UI

Key Points

• Meeder Asset Management acquired 3,710 Ubiquiti shares in the second quarter, valued at approximately $1.98 million. Other institutional investors, including Goldman Sachs and Legal & General, also increased their positions; institutions own about 4% of Ubiquiti.
• Analyst sentiment is mixed, with two Buy ratings, one Hold and one Sell. The stock has a consensus rating of Hold and an average price target of $750.67.
• Ubiquiti shares opened at $581.53, with a market capitalization of $35.19 billion and a price-to-earnings ratio of 37.37. The stock has traded between $380.00 and $1,099.99 over the past year.

Meeder Asset Management Inc. acquired a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,710 shares of the company's stock, valued at approximately $1,981,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Ubiquiti by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company's stock valued at $10,494,000 after acquiring an additional 8,551 shares during the last quarter. Woodline Partners LP grew its position in Ubiquiti by 22.1% during the 1st quarter. Woodline Partners LP now owns 1,214 shares of the company's stock worth $377,000 after acquiring an additional 220 shares during the last quarter. Jane Street Group LLC increased its holdings in Ubiquiti by 12.9% in the 1st quarter. Jane Street Group LLC now owns 13,768 shares of the company's stock worth $4,270,000 after purchasing an additional 1,570 shares in the last quarter. Cetera Investment Advisers acquired a new position in Ubiquiti in the 2nd quarter worth about $312,000. Finally, Legal & General Group Plc increased its holdings in Ubiquiti by 23.2% in the 2nd quarter. Legal & General Group Plc now owns 792 shares of the company's stock worth $326,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings lowered Ubiquiti from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 29th. Wall Street Zen cut Ubiquiti from a "buy" rating to a "hold" rating in a report on Monday, April 27th. Barclays upped their price objective on Ubiquiti from $527.00 to $672.00 and gave the company an "underweight" rating in a research note on Monday, May 11th. BWS Financial reiterated a "buy" rating and issued a $980.00 price objective on shares of Ubiquiti in a report on Wednesday, July 8th. Finally, Zacks Research downgraded shares of Ubiquiti from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $750.67.

Ubiquiti Stock Down 0.4%

NYSE UI opened at $581.53 on Wednesday. The company has a market capitalization of $35.19 billion, a price-to-earnings ratio of 37.37 and a beta of 1.31. Ubiquiti Inc. has a twelve month low of $380.00 and a twelve month high of $1,099.99. The stock has a fifty day simple moving average of $552.75 and a 200 day simple moving average of $690.47.

Ubiquiti Company Profile

Ubiquiti Inc NYSE: UI is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti's offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.

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