First Trust Advisors LP Reduces Stock Holdings in Ubiquiti Inc. (NYSE:UI)

First Trust Advisors LP reduced its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 41.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,380 shares of the company's stock after selling 23,882 shares during the quarter. First Trust Advisors LP owned 0.06% of Ubiquiti worth $11,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Versor Investments LP grew its holdings in Ubiquiti by 254.5% during the fourth quarter. Versor Investments LP now owns 3,900 shares of the company's stock worth $1,295,000 after acquiring an additional 2,800 shares during the period. Barclays PLC lifted its stake in shares of Ubiquiti by 4,880.2% in the third 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 period. Convergence Investment Partners LLC purchased a new stake in Ubiquiti during the fourth quarter worth about $2,180,000. Sei Investments Co. acquired a new position in Ubiquiti during the fourth quarter worth about $1,737,000. Finally, Raymond James Financial Inc. purchased a new position in Ubiquiti in the fourth quarter valued at about $1,246,000. Institutional investors and hedge funds own 4.00% of the company's stock.

Insider Transactions at Ubiquiti

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

Ubiquiti Price Performance

Ubiquiti stock traded up $7.48 during midday trading on Friday, reaching $342.31. 11,601 shares of the company were exchanged, compared to its average volume of 80,085. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 46.50 and a beta of 1.31. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The firm's 50-day simple moving average is $311.89 and its 200-day simple moving average is $330.55. Ubiquiti Inc. has a 1 year low of $109.00 and a 1 year high of $469.98.

Ubiquiti (NYSE:UI - Get Free Report) last announced its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the company earned $1.36 EPS. On average, analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti's dividend payout ratio (DPR) is 32.61%.

Analyst Upgrades and Downgrades

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

Ubiquiti Company 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.