Woodline Partners LP Invests $330,000 in Ubiquiti Inc. (NYSE:UI)

Woodline Partners LP purchased a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 994 shares of the company's stock, valued at approximately $330,000.

A number of other hedge funds also recently modified their holdings of UI. Renaissance Technologies LLC grew its position in Ubiquiti by 1.2% in the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company's stock worth $66,374,000 after acquiring an additional 2,400 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after acquiring an additional 102,268 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Ubiquiti by 100.1% during the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock valued at $32,927,000 after buying an additional 49,616 shares during the period. Vanguard Group Inc. increased its position in shares of Ubiquiti by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock valued at $31,369,000 after buying an additional 2,294 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Ubiquiti by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock worth $21,197,000 after purchasing an additional 765 shares during the period. Institutional investors own 4.00% of the company's stock.

Ubiquiti Price Performance

Shares of UI traded down $0.12 during trading hours on Friday, reaching $396.07. 82,427 shares of the stock traded hands, compared to its average volume of 82,417. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 52-week low of $139.06 and a 52-week high of $469.98. The company's 50-day moving average price is $343.64 and its two-hundred day moving average price is $349.20. The company has a market cap of $23.96 billion, a P/E ratio of 53.81 and a beta of 1.32.

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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's dividend payout ratio (DPR) is 26.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UI shares. BWS Financial restated a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a report on Monday, May 12th. Barclays increased 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.

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.