Squarepoint Ops LLC Sells 23,533 Shares of Ubiquiti Inc. (NYSE:UI)

Squarepoint Ops LLC reduced its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 45.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,154 shares of the company's stock after selling 23,533 shares during the period. Squarepoint Ops LLC's holdings in Ubiquiti were worth $9,345,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of UI. Barclays PLC lifted its holdings in Ubiquiti by 4,880.2% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company's stock valued at $2,959,000 after purchasing an additional 13,079 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Ubiquiti in the fourth quarter valued at about $3,050,000. Raleigh Capital Management Inc. lifted its stake in shares of Ubiquiti by 34.9% during the 4th quarter. Raleigh Capital Management Inc. now owns 286 shares of the company's stock worth $95,000 after buying an additional 74 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Ubiquiti during the 4th quarter worth about $318,000. Finally, DGS Capital Management LLC boosted its holdings in shares of Ubiquiti by 138.6% during the 4th quarter. DGS Capital Management LLC now owns 2,295 shares of the company's stock worth $762,000 after buying an additional 1,333 shares during the period. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UI has been the subject of several research reports. Barclays raised their price objective 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 set a $440.00 target price on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Stock Performance

Shares of UI traded up $13.24 during midday trading on Tuesday, reaching $406.46. 93,539 shares of the stock were exchanged, compared to its average volume of 82,206. The stock's 50 day simple moving average is $337.39 and its 200 day simple moving average is $347.68. The company has a market cap of $24.59 billion, a P/E ratio of 55.23 and a beta of 1.32. Ubiquiti Inc. has a twelve month low of $139.06 and a twelve month high of $469.98. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31.

Ubiquiti Dividend Announcement

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