Alliancebernstein L.P. Trims Position in Ubiquiti Networks (UBNT)

Alliancebernstein L.P. lessened its position in shares of Ubiquiti Networks (NASDAQ:UBNT) by 15.1% in the fourth quarter, Holdings Channel reports. The fund owned 34,676 shares of the Wireless communications provider’s stock after selling 6,174 shares during the quarter. Alliancebernstein L.P.’s holdings in Ubiquiti Networks were worth $2,463,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers increased its position in Ubiquiti Networks by 9.0% in the third quarter. Rhumbline Advisers now owns 28,589 shares of the Wireless communications provider’s stock worth $1,602,000 after buying an additional 2,350 shares in the last quarter. SG Americas Securities LLC increased its position in Ubiquiti Networks by 53.5% in the third quarter. SG Americas Securities LLC now owns 4,248 shares of the Wireless communications provider’s stock worth $238,000 after buying an additional 1,480 shares in the last quarter. Ameriprise Financial Inc. increased its position in Ubiquiti Networks by 106.9% in the third quarter. Ameriprise Financial Inc. now owns 27,651 shares of the Wireless communications provider’s stock worth $1,549,000 after buying an additional 14,287 shares in the last quarter. American International Group Inc. increased its position in Ubiquiti Networks by 8.1% in the third quarter. American International Group Inc. now owns 15,508 shares of the Wireless communications provider’s stock worth $869,000 after buying an additional 1,159 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Ubiquiti Networks by 20.6% in the third quarter. Wells Fargo & Company MN now owns 169,969 shares of the Wireless communications provider’s stock worth $9,521,000 after buying an additional 29,090 shares in the last quarter. Institutional investors own 30.88% of the company’s stock.

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A number of analysts have commented on the company. ValuEngine upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research raised Ubiquiti Networks from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. TheStreet lowered Ubiquiti Networks from an “a” rating to a “c+” rating in a research note on Friday, February 9th. BMO Capital Markets upped their price objective on Ubiquiti Networks from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Finally, Deutsche Bank upped their price objective on Ubiquiti Networks from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.75.

NASDAQ UBNT opened at $70.32 on Friday. The stock has a market capitalization of $5,643.17, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.95, a current ratio of 10.94 and a quick ratio of 10.00. Ubiquiti Networks has a twelve month low of $45.71 and a twelve month high of $82.30.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings data on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $250.80 million during the quarter, compared to analyst estimates of $239.89 million. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. equities research analysts predict that Ubiquiti Networks will post 1.93 earnings per share for the current fiscal year.

Ubiquiti Networks declared that its board has authorized a share repurchase program on Thursday, February 8th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Ubiquiti Networks Profile

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.

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

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