Price T Rowe Associates Inc. MD Sells 1,319 Shares of Ubiquiti Inc. (NYSE:UI)

Price T Rowe Associates Inc. MD cut its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,864 shares of the company's stock after selling 1,319 shares during the quarter. Price T Rowe Associates Inc. MD's holdings in Ubiquiti were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Barclays PLC increased 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 buying an additional 13,079 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ubiquiti by 20.4% during the third quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company's stock worth $6,610,000 after buying an additional 5,045 shares during the period. Hanseatic Management Services Inc. lifted its holdings in shares of Ubiquiti by 12.0% during the 4th 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. Diversify Advisory Services LLC purchased a new position in shares of Ubiquiti in the fourth quarter worth about $273,000. Finally, Oxinas Partners Wealth Management LLC acquired a new stake in Ubiquiti during the 4th quarter worth about $699,000. 4.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

UI has been the topic of several research analyst reports. BWS Financial reiterated a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a report on Monday. Barclays lifted their price objective on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research report on Monday.

Ubiquiti Price Performance

Shares of NYSE UI traded down $19.61 during trading on Wednesday, hitting $437.09. The company had a trading volume of 53,296 shares, compared to its average volume of 81,749. The business's 50-day moving average is $319.86 and its 200 day moving average is $338.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. Ubiquiti Inc. has a 52 week low of $134.72 and a 52 week high of $469.98. The company has a market cap of $26.44 billion, a P/E ratio of 59.39 and a beta of 1.32.

Ubiquiti (NYSE:UI - Get Free Report) last announced its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating 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 quarter in the prior year, the business posted $1.36 earnings per share. Equities research analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.55%. Ubiquiti's payout ratio is presently 26.43%.

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.