Raymond James Financial Inc. Makes New Investment in Ubiquiti Inc. (NYSE:UI)

Raymond James Financial Inc. purchased a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,753 shares of the company's stock, valued at approximately $1,246,000.

Several other large investors have also modified their holdings of the stock. Barclays PLC raised its stake in Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company's stock worth $2,959,000 after purchasing an additional 13,079 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Ubiquiti by 13.3% in the third quarter. Tidal Investments LLC now owns 18,505 shares of the company's stock worth $4,103,000 after purchasing an additional 2,174 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Ubiquiti by 20.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company's stock valued at $6,610,000 after acquiring an additional 5,045 shares during the period. Hanseatic Management Services Inc. increased its stake in Ubiquiti by 12.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 384 shares of the company's stock valued at $127,000 after purchasing an additional 41 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Ubiquiti in the fourth quarter valued at $273,000. Institutional investors own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on UI shares. Barclays dropped their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a report on Monday, February 10th. BWS Financial reaffirmed a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a research report on Friday, April 4th.

Ubiquiti Stock Up 13.8 %

UI stock traded up $48.90 during mid-day trading on Friday, hitting $402.14. The stock had a trading volume of 110,297 shares, compared to its average volume of 81,148. The company has a fifty day moving average of $313.28 and a 200 day moving average of $333.94. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $24.33 billion, a price-to-earnings ratio of 54.64 and a beta of 1.32. Ubiquiti Inc. has a 1-year low of $115.00 and a 1-year high of $469.98.

Ubiquiti (NYSE:UI - Get Free Report) last announced 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 net margin of 20.68% and a return on equity of 296.82%. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, equities analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the sale, the chief accounting officer now owns 2,484 shares in the company, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 93.10% of the company's stock.

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.