Ubiquiti Networks, Inc. (UBNT) Position Trimmed by AHL Partners LLP

AHL Partners LLP decreased its holdings in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 75.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,208 shares of the Wireless communications provider’s stock after selling 97,055 shares during the quarter. AHL Partners LLP’s holdings in Ubiquiti Networks were worth $1,622,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in UBNT. PNC Financial Services Group Inc. raised its holdings in Ubiquiti Networks by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after acquiring an additional 80 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Ubiquiti Networks in the 1st quarter valued at approximately $113,000. Pacer Advisors Inc. raised its holdings in Ubiquiti Networks by 22.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock valued at $136,000 after acquiring an additional 490 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ubiquiti Networks in the 2nd quarter valued at approximately $144,000. Finally, Lazard Asset Management LLC raised its holdings in Ubiquiti Networks by 26.0% in the 1st quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after acquiring an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 30.85% of the company’s stock.

In related news, insider Robert J. Pera sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the sale, the insider now directly owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 70.34% of the company’s stock.

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Ubiquiti Networks, Inc. (NASDAQ:UBNT) opened at 60.32 on Friday. Ubiquiti Networks, Inc. has a 12-month low of $45.71 and a 12-month high of $67.80. The firm has a market cap of $4.85 billion, a PE ratio of 19.52 and a beta of 0.51. The firm has a 50-day moving average price of $56.97 and a 200 day moving average price of $53.70.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. The business had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $219.14 million. Ubiquiti Networks had a return on equity of 45.87% and a net margin of 29.76%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Equities research analysts forecast that Ubiquiti Networks, Inc. will post $3.68 EPS for the current year.

Ubiquiti Networks announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to purchase up to 18% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Several equities analysts have commented on the company. Vetr raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $58.36 price target for the company in a report on Wednesday, August 2nd. BidaskClub raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG upped their price target on Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday, August 7th. Finally, Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $58.06.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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Institutional Ownership by Quarter for Ubiquiti Networks (NASDAQ:UBNT)

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