Pinebridge Investments L.P. Takes $1.32 Million Position in Ubiquiti Inc. (NYSE:UI)

Pinebridge Investments L.P. purchased a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,971 shares of the company's stock, valued at approximately $1,318,000.

A number of other institutional investors have also added to or reduced their stakes in UI. Farther Finance Advisors LLC boosted its stake in Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after acquiring an additional 54 shares during the period. Blue Trust Inc. raised its holdings in shares of Ubiquiti by 78.8% during 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. Financial Perspectives Inc raised its holdings in shares of Ubiquiti by 152.2% during 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. Finally, Sterling Capital Management LLC lifted 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 purchasing an additional 39 shares during the period. Institutional investors own 4.00% of the company's stock.

Insider Activity at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 93.10% of the stock is owned by corporate insiders.

Ubiquiti Stock Performance

UI stock traded up $8.18 during midday trading on Friday, reaching $343.01. 48,227 shares of the company's stock traded hands, compared to its average volume of 80,216. 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 $110.32 and a 52-week high of $469.98. The stock has a market cap of $20.75 billion, a P/E ratio of 46.60 and a beta of 1.31. The stock's 50-day moving average is $312.28 and its 200 day moving average is $331.83.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same period last year, the business posted $1.36 earnings per share. As a group, analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. Ubiquiti's payout ratio is 32.61%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UI. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research note on Friday, April 4th. Barclays cut their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a report on Monday, February 10th.

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.