Walleye Capital LLC purchased a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 51,332 shares of the company's stock, valued at approximately $27,413,000. Walleye Capital LLC owned 0.08% of Ubiquiti at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. 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 purchasing an additional 8,551 shares during the period. Woodline Partners LP grew its stake in Ubiquiti by 22.1% during the first quarter. Woodline Partners LP now owns 1,214 shares of the company's stock worth $377,000 after purchasing an additional 220 shares during the period. Jane Street Group LLC grew its stake in Ubiquiti by 12.9% during the first 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 during the period. Cetera Investment Advisers acquired a new stake in Ubiquiti during the second quarter worth approximately $312,000. Finally, Legal & General Group Plc increased its holdings in Ubiquiti by 23.2% in the second 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. 4.00% of the stock is owned by institutional investors.
Ubiquiti Stock Performance
UI stock opened at $573.98 on Friday. The stock's 50 day simple moving average is $552.26 and its 200 day simple moving average is $689.04. The company has a market cap of $34.74 billion, a P/E ratio of 36.89 and a beta of 1.31. Ubiquiti Inc. has a fifty-two week low of $380.00 and a fifty-two week high of $1,099.99.
Wall Street Analyst Weigh In
Several brokerages have issued reports on UI. Weiss Ratings lowered Ubiquiti from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 29th. Zacks Research raised shares of Ubiquiti from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. BWS Financial reiterated a "buy" rating and set a $980.00 target price on shares of Ubiquiti in a research report on Wednesday, July 8th. Barclays boosted their target price on shares of Ubiquiti from $527.00 to $672.00 and gave the company an "underweight" rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Ubiquiti from a "buy" rating to a "hold" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $750.67.
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About Ubiquiti
(
Free Report)
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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