Nisa Investment Advisors LLC Sells 4,363 Shares of Ubiquiti Inc. (NYSE:UI)

Nisa Investment Advisors LLC cut its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 47.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,825 shares of the company's stock after selling 4,363 shares during the quarter. Nisa Investment Advisors LLC's holdings in Ubiquiti were worth $1,496,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UI. National Bank of Canada FI raised its position in Ubiquiti by 10.4% during the fourth quarter. National Bank of Canada FI now owns 350 shares of the company's stock valued at $116,000 after acquiring an additional 33 shares in the last quarter. Farther Finance Advisors LLC raised its position in Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after acquiring an additional 39 shares in the last quarter. Sterling Capital Management LLC raised its position in Ubiquiti by 30.2% during the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after acquiring an additional 39 shares in the last quarter. Parallel Advisors LLC raised its position in Ubiquiti by 6.0% during the first quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after acquiring an additional 41 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its position in Ubiquiti by 26.2% during the first quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock valued at $112,000 after acquiring an additional 75 shares in the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UI has been the topic of several recent research reports. Barclays raised their price objective 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. BWS Financial reiterated a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a report on Friday, July 11th.

Ubiquiti Stock Performance

Shares of UI traded up $13.06 during mid-day trading on Friday, hitting $459.99. The company's stock had a trading volume of 51,852 shares, compared to its average volume of 88,132. Ubiquiti Inc. has a one year low of $156.94 and a one year high of $469.98. The firm has a market capitalization of $27.82 billion, a PE ratio of 50.57 and a beta of 1.34. The stock's 50-day moving average is $405.47 and its two-hundred day moving average is $362.82.

Ubiquiti Announces Dividend

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

Ubiquiti Profile

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.