Ubiquiti Inc. (NYSE:UI) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,738 shares of the company's stock after selling 9,496 shares during the period. Millennium Management LLC owned about 0.09% of Ubiquiti worth $17,173,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in Ubiquiti by 47.0% in the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. Blue Trust Inc. increased its stake in Ubiquiti by 78.8% in the fourth quarter. Blue Trust Inc. now owns 143 shares of the company's stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Sterling Capital Management LLC increased its stake in Ubiquiti by 30.2% in the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after purchasing an additional 39 shares during the last quarter. Finally, Financial Perspectives Inc increased its stake in Ubiquiti by 152.2% in the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company's stock valued at $56,000 after purchasing an additional 102 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on UI. Barclays increased their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. BWS Financial reiterated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Stock Performance

Shares of UI stock traded up $13.24 during trading hours on Tuesday, hitting $406.46. The stock had a trading volume of 93,539 shares, compared to its average volume of 82,206. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The firm has a market capitalization of $24.59 billion, a PE ratio of 55.23 and a beta of 1.32. The stock's 50 day moving average is $339.14 and its 200 day moving average is $348.09. Ubiquiti Inc. has a twelve month low of $139.06 and a twelve month high of $469.98.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. Ubiquiti's payout ratio is 26.43%.

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.